Trupanion Announces $9 Million Round of Financing Led by the Highland Consumer Fund

December 15th, 2011 by Bank Loan | No Comments | Filed in News

Seattle, WA (PRWEB) December 14, 2011

Trupanion, the North American leader in pet insurance, today announced a $ 9 million financing led by the Highland Consumer Fund, with participation by existing investor Maveron LLC. The funding will be used to continue the companys strong revenue growth by making additional investments in the industrys only national sales force and Trupanions superior customer service and claims administration capability. To date, Trupanion has raised more than $ 37.1 million in capital.

Trupanion provides pet insurance to pet owners in the United States, Canada, and Puerto Rico. The companys simple product covers 90% of the actual costs of veterinary care if a pet becomes sick or injured, with no payout limits per year, per claim, or over the lifetime of the pet. Trupanion offers coverage for the hereditary issues associated with purebred cats and dogs and does not penalize pet owners as their pets age or the unlucky pets who have multiple claims.

Trupanion has proven again and again their commitment to providing one simple, fair plan with the industrys highest medical loss ratio, said Ted Philip, Managing General Partner of the Highland Consumer Fund. This results in the categorys happiest customers and fast, profitable growth. Were excited to be part of the team.

Trupanion was founded in Canada in 1999 by CEO Darryl Rawlings. In 2008 the company expanded into the United States marketplace and quickly became the first pet insurance company to be recognized by the American Animal Hospital Association. Rawlings was recently profiled in Fortune Magazine because of this success.

Our partnership with the Highland Consumer Fund furthers our commitment to helping the millions of pet owners who struggle to balance their discretionary income with their desire to provide the best care for their four legged family members, said Rawlings. The Highland team has worked with such companies as lululemon and Pinkberry to help turn them into market leaders. Were thrilled to have their expertise onboard to fuel the next stage of Trupanions growth.

Joining the Highland Consumer Fund in the financing round is Maveron LLC, Trupanions first institutional investor, a consumer-focused venture capital firm founded by Howard Schultz of Starbucks and Dan Levitan. Maverons investments include Altius Education, eBay, Groupon, and Zulily.

The Huffington Post recently recognized Trupanion as a leader in work life balance, alongside such companies as Google, Netflix and Zappos. This distinction is enjoyed by 120 employees in Seattle and Vancouver and an additional 70 individuals across North America who support local veterinarians. Trupanion COO Howard Rubin and Senior Vice President Dr. Kerri Marshall lead the companys focused commitment to partnering with the animal health industry.

Trupanion has a working environment that reinforces our love of pets and our understanding of the needs of pet owners and veterinarians, said Rubin, who was the founding CEO of the National Commission on Veterinary Economic Issues. Our new investment partner understands this as well and will propel us even further along our path to becoming the largest and best pet insurance provider in the industry.

About Trupanion

Trupanion pet insurance offers cat insurance and dog insurance in the United States, Canada, and Puerto Rico. Trupanion is self-underwritten by the American Pet Insurance Company, allowing Trupanion to offer a simple, customizable pet insurance policy with no payout limits and 90% coverage of veterinary bills. Enrolled pets receive lifetime coverage for diagnostic tests, surgeries, and medications if they get sick or are injured, with no incident, annual or lifetime limit. Trupanions mission is to deliver fast, simple and user-friendly financial support to pet owners. For more information about Trupanion, call 800-569-7913 or visit Trupanion.com. You can also follow Trupanion on Twitter or Facebook.

About The Highland Consumer Fund

The Highland Consumer Fund specializes in consumer products, services and retail investment opportunities in growth-focused companies with proven business models operating in attractive markets. The Fund brings together an investment team with extensive experience founding, growing, operating and investing in successful consumer companies. It also offers companies a unique value proposition through the hands-on guidance and active involvement of its consumer domain experts. The Highland Consumer Fund has invested in and worked to create such firms as Castor & Pollux Natural Pet Works, City Sports, Guitar Center, J.McLaughlin, Life Gear, mix1, O Beverages, Pharmaca Integrative Pharmacy, Pinkberry and Strivectin. For more information, visit Highland’s web site at http://www.hcp.com.

About Maveron

Maveron LLC is a venture capital firm that invests exclusively in consumer companies. Founded in 1998 by Dan Levitan and Howard Schultz, the firm has offices in Seattle and San Francisco, and is focused on backing the best entrepreneurs in three sectors: web-enabled consumer services, education and wellness. Founded in 1998 by Representative Maveron investments include Altius Education, eBay, Capella Education, Groupon, Livemocha, Shutterfly, Trupanion and zulily. For more information about Maveron, visit http://www.maveron.com.

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Car Loans: Easy fund to buy a car

December 8th, 2011 by Bank Loan | No Comments | Filed in Loans

Car Loans: Easy fund to buy a car

Article by Alan Poly

Alan Poly has been in the auto finance business for more than 20 years and has assisted thousands of consumers with their car loan needs. He has written many articles on car Loan Company, she provides counseling and expert knowledge on car loans UK, Used personal car loan, cheap car loans.










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What Should You Look For in a Mutual Fund?

February 5th, 2011 by Bank Loan | No Comments | Filed in News

What Should You Look For in a Mutual Fund?

Article by Jim Knight





A mutual fund is a collection of stocks or bonds. One can think of a mutual fund as a company that brings together a group of people and invests their money in stocks, bonds, and other forms of investment. Each investor owns shares which represent a portion of the holdings of the fund.

Mutual funds have become extremely popular over the last two decades. What was once just another obscure financial instrument is now a part of our everyday lives. More than one half of the households in America invest in mutual funds. Trillions of dollars are spent on mutual funds alone in the US.

Investing in mutual funds is better than simply letting your cash waste away due to inflation in a savings account. But, for most investors, that’s where the understanding of mutual funds ends.

Originally, mutual funds were constructed for the average small investor. It was the way for the little guy to participate in the market. Mutual funds have been regarded as an excellent idea in theory, but, in real world, they haven’t always delivered. Not all mutual funds are equal in every aspect. Making investments in mutual funds isn’t as easy as throwing money at the first salesperson who solicits one’s business.

For the individual who wants to get in the stock market by investing, there are various mutual funds that are worth looking into. When conducting research, it is best to choose different genres of mutual funds. Various benchmarks should be kept in sight in order to compare the mutual funds.

The performance of the chosen mutual companies should be properly evaluated. One has to see how the company has weathered the ups and downs of the stock market over a previous period of years. Although, this is not an absolute indication of future success, it lets us know, whether the company is capable of performing well, even if there is no clear indication of volatility in the stock.

Expense ratios of different fund houses and their schemes should also be properly reviewed. These costs include administrative costs, advertising costs, buying and selling of stocks and bonds and load costs. Thorough research should be done by the prospective investors themselves, because these expenses are also borne by them alone.

Detailed information about the different fund houses and the schemes therein can be found in newspapers, brochures and on financial websites. However, one should make sure that they fully understand all of the information that is given, as this makes investing in a mutual fund easier.

After properly analyzing all of the information, one can make a well-informed decision about mutual funds. This research work helps the average investor to select a mutual fund to invest in, according to their individual financial goals. One must ensure that they go through all of these details when they are ready to start investing. The knowledge gained from comparing different mutual funds gives the average person confidence to invest in the risky, yet rewarding, world of mutual funds.

About the Author

You should consider the MLP mutual funds’ investment objectives, risks, charges and expenses carefully before investing in MLP. For a prospectus, or summary prospectus, that contains this and other information about SteelPath MLP Funds, call 1-888-614-6614.

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How to build a mutual fund portfolio

November 15th, 2010 by Bank Loan | No Comments | Filed in News

How to build a mutual fund portfolio

This article was written by Personalfn for Business India, and was carried in its May 6, 2007 issue with the title, “Building a mutual fund portfolio”. The original draft, in its entirety, has been retained here.

With new fund offers (NFOs) becoming the order of the day (there are dozens launched every month) in the mutual fund industry, investors often find themselves stumped while evaluating whether a particular fund should be a part of their portfolio. Add to this the fact that most of the NFOs fail to offer anything significantly different from existing mutual funds. This confuses the investor even further, since he is forever agonising on whether the NFO is truly a great investment opportunity as the advertisement often claims.

At Personalfn, we are flooded with queries from investors on how to go about building a portfolio that will involve minimal tracking and churning and can help them achieve their investment objectives over the long-term.

To be sure, this is not an easy task given the number of mutual funds in the market, many of which seem to be saying (as dictated by the investment objective) and doing (in terms of investments) totally different things.

Out of the varying categories of mutual fund investors (long-term, short-term, risk-taking, conservative), we have considered the category ” i.e. risk-taking, long-term investor since a lot of investors belong to it or will belong to it at some point of time in their lives.

Among the numerous problems plaguing the mutual fund industry, we have highlighted the ones that are particularly irksome for the risk-taking investor attempting to build a long-term mutual fund portfolio.

Building a mutual fund portfolio is not an easy task. For the benefit of investors, we have split this process in two steps. The first step, outlined below, is relatively easy as it involves eliminating the mutual fund schemes that should not be a part of your portfolio.

Step 1: Process of elimination

Reason why we started with the process of elimination is because for some unfathomable reason, investors like to populate their mutual fund portfolios with a lot of schemes. Even more unfortunate is when you ask them why they invested in a particular scheme, there is no answer except the customary ” my agent told me it’s a great fund.”

To investors who believe that more mutual fund schemes is in harmony with the principle of diversification and therefore a virtue, we would like to quote Warren Buffet, arguably the most successful investor of all time. With regards to diversification he says, “Diversification is a protection against ignorance. It makes very little sense for those who know what they are doing.”

So the need of the hour for the mutual fund investor is not to go by what his agent is telling him, but question the existence of every mutual fund in his portfolio so that he is left only with the very best and critical funds. The rest of the funds can be redeemed. It is vital for the mutual fund investor to guard against over-diversification; your fund manager (if he is smart) is taking care of the diversification. There is little point in diversifying something that is already diversified.

While eliminating mutual funds (whether they are a part of your portfolio or not), one has to keep some points in mind.

1. Restrain the urge to invest in sector/thematic funds no matter how compelling an argument your agent or the fund house makes. Over the long-term, there is little value that a restrictive and narrow theme can bring to the table. It is best to opt for a broad investment mandate that is best championed by well-diversified equity funds.

2. If there are two or more mutual funds that seem to be doing the same thing (in terms of mandate, style), then you have to ensure that you are left with just the best in that category and eliminate the rest.

3. Since equity funds are long-term investments, it’s a must to evaluate them over the long-term (3-5 years) and over a market cycle. That way you get a fairly good idea about whether the equity fund under review has stood the test of time. Many NFOs launched over the last 2-3 years have done reasonably well leading investors to believe they are well-managed funds, while the fact is that the markets have appreciated sharply over this period. So a fund manager would have to be really incompetent to lose money over this period. It takes a bear phase to separate the men from the boys.

Step 2: Process of selection

If you have performed the elimination process diligently enough, the second step should come naturally. For instance, if you have ignored all the sector/thematic funds, that leaves you with just the well-diversified ones. Likewise, if you have disregarded the equity funds that have yet to complete a 3-Yr track record, you are automatically left with those who have a minimum 3-Yr track record. While selecting mutual funds, you must keep the following points in mind:

1. The debate on whether large caps or mid caps reward the investor better is an ongoing one and it would be inadvisable to choose one over the other because both have inherent strengths and (if well-selected) can reward the investor handsomely over the long-term. Therefore, there is merit in selecting a well-managed mid cap and large cap fund for your mutual fund portfolio. It also pays to invest in an equity fund that can invest in both large caps and mid caps depending on the opportunity; these funds are therefore referred to as opportunities/flexi cap funds.

2. On the same lines, investors should go for both ” well-managed growth style and value style equity funds. This way they can capitalise on opportunities across the board. Growth funds invest in well-managed companies that are fairly valued with a view that they are likely to perform even better going forward. Value funds invest in well-managed companies that are undervalued (temporarily) with the view that they will achieve their fair value going forward.

3. Although, balanced funds have their own set of critics, for one, we are firmly in favor of them. We are further vindicated by the fact that most equity funds to be launched in the recent past have a provision to invest a portion of their assets in debt. The fact is, everyone, including equity fund managers, realizes the importance of debt in a mutual fund. So including a well-managed balanced fund in your portfolio is a must.

4. Your selection process must be based on cold research and analysis; your agent, neighbor and colleague are welcome to air their views, but remember at the end of the day it’s your money, not theirs. While researching equity funds, go for the ones that have a 3-5 track record over a market cycle. The performance (or lack of it) of an equity fund during a market downturn should be noted. Usually, investors are enamored by ‘bull run wonders’, ignoring the fact that it is actually the downturn that is the biggest test for the fund manager.

Speaking of the fund manager, don’t rely too heavily on him either; instead rely on a fund management team. This way, even if the fund manager quits the fund house (which is very common today), the processes of the fund management team can replace him seamlessly.

To summaries, the mutual fund portfolio of a risk-taking investor must include the following funds:

Large cap fund
Mid cap fund
Opportunities fund
Growth style fund
Value style fund
Balanced fund

A lot of what we have said in terms of the research process may appear a little difficult and time-consuming to the investor. That is not surprising, after all investing is a full-time activity and if you give it part-time attention, the results can be disastrous. That is why it is important to engage the services of a competent and experienced financial planner who can help you build a mutual fund portfolio on the lines we have recommended.

PersonalFN provides  Financial Planning , Investment Planning and Mutual Fund Portfolio services for those looking to invest in India. The services are available on a personalized basis as well as online.


Article from articlesbase.com

how to manage mutual fund

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Forex Fund Management May Be the Highest Paid Job Of The Decade

October 18th, 2010 by Bank Loan | No Comments | Filed in Forex




Forex Fund Management May Be the Highest Paid Job Of The Decade


Beverly Hills, CA (PRWEB) November 9, 2009

While searching for a new career that may experience growth throughout all economic conditions and which is currently in high demand in Dubai, U.K., U.S., Singapore, Hong Kong and other countries it is unlikely that Forex Fund Management will be seen anywhere on the list. That is because fund management is a highly specialized job and business in which only a few people in the world are currently involved. But some say the potential for growth in this industry is enormous.

Forex Fund management may be one of the most desirable careers in the world especially because of the steady hip hop rhythm of opportunity that it provides during economic crisis and recession as well as in time of economic boom. And the amount of other investor’s capital that is available to those who are skilled in trading is staggering!

Although it is now relatively common knowledge that Forex trading potentially offers massive profit earning potential, what many would-be investors do not realize is how much study and preparation is needed to actually realize consistent results. How many people are currently able to extract profit from the Forex market on a consistent basis? According to most sources the number is less than 5%. Very few people have the discipline, patience and arcane knowledge needed to make Forex trading really produce positive results day in and day out, month in and month out. While many people desire the lucrative profits of trading currencies, only a few have the time to study and practice and many people approach trading in the same way they would approach gambling in a Las Vegas casino, that is hoping to get lucky. For those who don’t have the time or even worse, the skills to trade with consistent profit, what are the alternatives? Many investors do have sufficient funds to trade and would love to see their funds grow faster than the snail’s pace 5-10% annual returns of traditional investments. Most traders would like to actually make a living from the return on capital of their trading accounts.

Since most people who attempt trading fail quickly, many then look to automated trading systems, or “Forex trading robots”. The internet is filled with ridiculous candy coated propaganda that offers huge amounts of income automatically while the “trader” is not even trading manually. Statements like “Forex Trading Software That Doubles Your Profits Monthly Automatically” or “New Forex Robot Grabs Profit Every Day With No Losses!” are splattered all over the media and the internet trying to lure in gullible investors to buy a cheap software that may actually quickly wipe out their accounts.

But with a little research on online Forex trading forums, it is immediately discovered that there are a lot of unhappy traders who regret purchasing these automated trading robots. Is it really safe to entrust hard earned money to a machine? And why would anyone sell an automated system that really works? Why not use it to trade and manage funds rather than peddling the priceless golden goose for a mere ? It certainly gives reason to wonder.

Known as one of the businesses that provides the same opportunity through any economic conditions, Forex trading continues to attract more retail investors. Yet, the high level of risk attached to the Forex trading industry and the difficulty involved in trading deters most people from trading Forex. Aside from the risk it involves, most people willing to invest in trading do not have sufficient time to learn and acquire the skills needed to trade profitably. These reasons drive investors to purchase Forex trading robots or Forex automated systems that claim outrageous return-of-investments. Some look to subscribe to the “alerts” of a more skilled trader or use a proprietary software that produces some kind of obvious signal like a green arrow and message that says, “BUY NOW!” or “SELL HERE!”

“Only a few have the characteristics and skill to trade Forex with the kind of legendary results whispered about in Forex trading circles. Consequently, a huge demand for Forex Fund Managers has suddenly popped up especially now that people are realizing that the Forex robot industry is primarily a scam,” said Scott Shubert, CEO and founder of Colorado based Trading Mastermind. “Trading well requires a human being with visual skills that cannot be duplicated by a robot.”

“When I heard a friend of mine say that he is doing quite well in trading, I asked, ‘will you trade Forex with my money?” said Alfred Fischer*, a full time chef in one of San Diego’s local five star hotels. “I am always interested in trading but my job does not permit me to do so,” he said.

Implementing a fund’s investing strategy and managing its portfolio trading activities are the main responsibilities of a fund manager or an investment manager. For a successful Forex trader, setting up a Forex fund is an efficient, legal and professional way to trade with his own money along with his investors’ money, the investors seeking to benefit from the trader’s capability and performance.

And since Forex is now in such extreme high demand, Shubert believes that there is also a “huge demand for Forex fund managers”, which prompted the Platinum Trading Group to start and develop a community for Forex fund managers now being also called the Academy of Forex Fund Managers. The Trading Mastermind Platinum Trading Group is now offering a solid training path to become a Forex Fund Manager in a relatively short period of time.

An experienced Forex trader who has graduated to the degree of Forex fund manager can earn a large amount of additional profit while doing his own trading. “Typically, fund managers charge a percentage of the returns which is a win-win deal between the investor and the fund manager that is performance based,” said Shubert.

“It’s obvious that Forex traders also seek to expand their trading careers,” said Snir Levi, a member of the Platinum Trading Group who is now managing funds. “And becoming a Forex fund manager is a great way to do that,” he added. The trading group, who recently opened slots for new members, believes that having more highly skilled Forex fund managers in the industry will lessen the number of investors victimized by money making scams.

“This is an extremely desirable career and business path for Forex traders and a fantastic way to make money work for the investor instead of the investor himself working hard for money or struggling with trading and losing,” said Shubert.

But of course the key to a successful career in managing Forex funds is rock-solid education, training and experience in trading Forex that propels the trader to surpass other traders’ performance in this business.

The Platinum Trading Group urges Forex traders who seriously think that they can fill the shoes of an efficient fund manager to step up and start an exciting career in the right place in order to become a professional fund manager in the shortest amount of time possible with the full support of a community that has the same goal and intention.

For more information on becoming a Forex trading fund manager, visit, www.forextradingseminar.com

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the most paid profession in Israel

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ME Bank Reaffirms its Industry Super Fund heritage

October 17th, 2010 by Bank Loan | No Comments | Filed in Bank

(PRWEB) April 10, 2010

New CEO Jamie McPhee today launched ME Bank’s new marketing strategy, illustrated by a national television commercial to go to air on Sunday, April 4, 2010.

The advertising slogan – if you’re a member of an industry super fund, ME Bank is your bank, highlights the bank’s philosophical heritage in the trade union and industry superannuation movement.

ME Bank’s new CEO Jamie McPhee said the Campaign outlines the additional benefits participating super fund members will receive, such as discounts on home loans and soon to be introduced preferential pricing on other products.

Australian actor John Wood, of Blue Heelers fame, is ME Bank’s spokesperson in the new television commercials. Mr Wood is the voice behind the successful Compare the Pair television commercials for the Industry Super Network. Shannon’s Way, the creator of Compare The Pair, also has created the new ME Bank’s television commercials.

Jamie said ME Bank has not only survived the global financial crisis but it has reinforced all the values that ME Bank has espoused since inception:


Simple, fair and transparent banking products;
Banking products designed to meet the customers needs, not simply those of the Bank’s shareholders; and
Responsible lending – meaning that you don’t just provide the customer with as much debt as possible because it is in the interests of the Bank’s bottom line to do so, but manageable levels of debt for the customer.

“You could call this returning to good old fashion values. However, for ME Bank this is business as usual.”

People are looking for a genuine alternative to the major banks. Not a fifth major, as four are plenty to choose from, but a genuine alternative, a fundamentally different banking proposition: A bank that genuinely acts in the customers’ best interest, he said.

This is exactly what the industry super funds have pioneered – low cost, fairer superannuation that aims to grow the retirement savings for their 6 million members, not the wallets of the retail fund shareholders.

ME Bank intends to ramp up its preferential pricing marketing activity to super fund and union members through its unique distribution system of workplace visits, site visits, direct mail, and fliers, he added.

About ME Bank

ME Bank provides super fund and union members with innovative, low cost banking services including Term Deposits, Home Loans, Personal Loans and Savings Accounts.

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Scholarship Coach Ben Kaplan Creates ‘College Almost for Free’ Online Camp to help Families Fund their Educational Dreams

October 17th, 2010 by Bank Loan | No Comments | Filed in Loans


Scholarship Coach Ben Kaplan


Portland, OR (PRWEB) September 28, 2010

Ben Kaplan has an unprecedented mission: To show millions of students and parents how to win college scholarships, maximize financial aid, and make their educational dreams come true. It’s a cause close to his heart: While a high school student, Kaplan won more than two dozen scholarship awards and accumulated nearly ,000 in scholarship funds—enabling him to attend his dream school, Harvard University, virtually for free.

Now an acclaimed speaker, scholarship coach, and bestselling author of ‘How to Go to College Almost for Free,’ Kaplan has created the groundbreaking ‘College Almost for Free’ online camp to help students of every age and their parents fund their college dreams. Camp participants start out by watching live streaming video at the www.CityofCollegeDreams.org website… including sessions on winning college scholarships, supersizing financial aid, slashing student loans, saving on related expenses, and getting admitted to dream colleges or grad schools.

Next, camp participants complete easy-to-follow tutorials, ready-to-go forms, and helpful worksheets that guide them through each important college money task. If they still have questions about their unique financial aid issues, they can simply login to weekly group chat sessions to get answers directly from Kaplan.

The interactive camp format is ideal for current high school and college students–plus adult non-traditional students returning to school. Students and parents are encouraged to participate in the camp sessions as a family team.

“I came to Ben and his ‘College Almost for Free’ camp without having any idea what it would be like,” says Ari Girelli, a student from Glastonbury, Connecticut. “Ben turned out to be one of my most valuable resources. My essays improved tremendously… and he helped me with multiple ones. He was also able to give me information on scholarships that totaled over ,000. I would recommend him to anybody, whether they think they are all set with applications or not. It’s incredible what he can do to improve the perceived value of a student.”

By participating in the ‘College Almost for Free’ camp, families can potentially increase their college money resources by tens of thousands of dollars–plus get their dream colleges to roll out the admissions red carpet. The camp is currently available at www.cityofcollegedreams.org/camp for the special introductory price of .95.

ABOUT BEN KAPLAN

Ben Kaplan is one of the nation’s leading experts on college scholarships and financial aid, student success, career planning, and youth personal growth topics. He has saved tens of thousands of families more than half a billion dollars over the past 10 years.

Kaplan has authored 12 best-selling books and CDs, including ‘How to Go to College Almost for Free’ (HarperCollins Publishers), the leading book in the genre with more than 400,000 copies in print. Now age 33, his popular “Live & Learn” education column was launched in The Oregonian (Portland’s daily newspaper) in 2006. In 2008, he launched a companion radio feature on KMOX-AM, the #1 rated station in St. Louis. Both are now syndicated nationally.

Kaplan is also the founder and publisher of CityofCollegeDreams.org, a leading online destination for college funding strategies and admissions advice. Additionally, he serves as a consultant to Fortune 500 companies looking to create corporate scholarship programs and branded community outreach efforts. More than 250 financial planners, accountants, and insurance agents license his college planning materials for use with their clients.

Kaplan has appeared on more than 2,000 TV and radio shows, including ‘Oprah,’ ‘Good Morning America,’ NBC, CBS, ABC, CNN, and NPR. He was selected the “Top Student Leader in America” by the National Association of Secondary School Principals. He currently resides in Portland, Oregon.

To set up a media interview with Ben Kaplan, please contact CityofCollegeDreams.org at (503) 345-4358 ext. 50 or submit an online request at www.cityofcollegedreams.org/contactus.

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When You Absolutely Can?t Afford to Lose Your Retirement Fund

October 17th, 2010 by Bank Loan | No Comments | Filed in Bank

Clinton, NJ (PRWEB) March 19, 2010

The name, “Bernie Madoff,” still evokes extreme feelings of anger and disbelief that are almost palpable. Madoff is the former stockbroker, investment advisor and mastermind behind the billion Ponzi scheme that left thousands of investors reeling from the loss of their entire life savings and substantial retirement accounts. Many are left wondering how Madoff “pulled off” a fraud scheme of this magnitude for as long as he did. Many were left in complete financial ruins.

In the wake of this, you may be wondering what you can do when you absolutely can’t afford to lose your retirement account, especially when there are so many different investment options to choose from? For many people, yearly investments in an Individual Retirement Account (IRA) have become automatic. But what kind of IRA – traditional, Roth or SEP? Do you invest through a bank, broker or investment firm? What about your company’s 401K plan?

Faced with all these choices, it’s imperative that you know the pros, cons, ins and outs of each one so that you can make the best decision for you, your money and your retirement. It’s also beneficial to consult with your tax advisor to discuss the specific tax advantages/disadvantages of each option in light of your specific circumstances.

Here are some basics to consider when it comes to the various types of individual retirement savings plans.

Bank or Broker?

People often ask, “Why would I open an IRA account in a bank when I can get a much larger return on my investment dollars through a brokerage firm?” If you can afford to lose your investment, perhaps even all of it, then it really doesn’t matter where you choose to invest. If you can’t, then here are the advantages of a bank-held IRA:


    Federal Deposit Insurance Corporation Protection (FDIC) – Bank-held IRA accounts are FDIC insured and protected up to 0,000, separate from any other accounts held in the same bank.
    Guaranteed Interest Rate – Interest rates on bank-held IRAs remain constant for the entire length of the investment term (3 months – 10 years), and your principal is protected and guaranteed. When you use an investment advisor or broker, your money is usually invested in accounts with fluctuating rates of return. Some of these are high-risk accounts, with possible loss of principal; others carry lower risk and are considered more stable. However, most investors with these types of accounts took a major hit with the current recession; many lost more than half their account value.
    No Maintenance Fees – Banks typically do not charge maintenance fees for IRA account plan administration.
    Personalized Service – When you deal with your local community bank, you get the benefit of individualized service and support. You’re not just an account number – you’re a familiar face and they know your name.

What Type of IRA – Traditional, Roth or SEP?

There are several types of IRAs to choose from, and your selection has a lot to do with your present and anticipated future income and the types of tax advantages you need, both now and in the future. An accountant who understands your complete financial picture is the best resource to offer advice on the type that’s right for you.

    Traditional IRA – With a traditional IRA, you can contribute up to ,000 yearly (,000 after age 50). The amount of your contribution is a dollar-for-dollar deduction from your gross income, which decreases your tax burden for the year in which the contribution was made. If you’re married, both spouses can take advantage of the full allowable contribution. In return for this yearly tax offset, withdrawals from a traditional IRA account are taxed in the year in which the monies are withdrawn, which can begin anytime after age 59 ½. The advantage here is that most people are in a lower tax bracket (and therefore are taxed at a lower rate) when they reach retirement age.

    Roth IRA – With a Roth IRA, you don’t receive any tax breaks for the year in which the contribution is made. The contribution is taxed at the time it is made; when you withdraw money from this account, after the age of 59 ½, you don’t pay any tax or interest penalty on the money, as long as it has been held in an account for a minimum of five years.

You can make yearly contributions to both a traditional and Roth IRA, however, your contributions to both may not exceed the ,000 or ,000 limits. For example, if you are 45, you can put ,500 in a traditional IRA and ,500 in a Roth IRA.

    SEP Plan – If you’re a sole proprietor or a small business owner, a Simplified Employee Pension (SEP) plan may provide you with the best vehicle to save for retirement. With a SEP IRA, you can contribute up to ,000 or 25% of your income, whichever is less. For many sole proprietors, this is an excellent way to save for retirement, with tax advantages that are similar to a traditional IRA.

Keep in mind that anyone with earned income can contribute to an IRA. As long as you have a job that reports earned income, you are eligible to contribute to an IRA, no matter how old you are (i.e., a 16-year-old with earned income can contribute to an IRA).

There are certain circumstances when you can withdraw from your IRA prior to age 59 ½ without penalties. These include situations when the money will be used for hardship cases, education or medical expenses; you will pay taxes on the interest only, with no IRS penalties.

What About a 401K Plan?

Many employers offer 401K plans to their employees both as a benefit and as a means to save for retirement. These plans are usually diversified among a number of high- and low-risk stock options. However, while they can yield a high rate of return and maximize investment savings, they are not FDIC insured or guaranteed. In other words, you could potentially lose a substantial amount of savings in a bad financial market.

The Bottom Line…

Your accountant is best suited to advise you on the retirement savings options that provide the best benefit for your individual circumstances. For example, it might be in your best interest to contribute to a traditional IRA, a Roth IRA and a 401K program through your employer.

Just remember that the only way to guarantee your rate of return and to safeguard your entire investment is through an FDIC-insured bank-issued IRA. Anything other than that may deliver a high rate of return or you can suffer crushing losses. Only you can decide what you’re willing to risk, After all – it’s your money.

Unity Bank has branches in Hunterdon, Middlesex, Somerset, Union and Warren counties in New Jersey, and Northampton County in Pennsylvania. The bank began as First Community Bank in 1991 with two branches and thirty employees. It now has over one hundred and sixty employees.

For more information about Unity Bank, call Rosemary Fellner at 800.618.BANK (2265), or visit www.unitybank.com.

CONTACT:

Rosemary Fellner

Vice President/ Marketing Director

Unity Bank

Phone: 800.618.BANK (2265)        

Email: www.unitybank.com

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Mutual Fund Investment – Top SIP Plans 2010 in India

October 13th, 2010 by Bank Loan | No Comments | Filed in News

Mutual Fund Investment – Top SIP Plans 2010 in India

Investing in Mutual Funds is one of the best way to earn more money in India. It gives good returns more than the regular savings schemes offered by the banks. The mutual fund industry in India is growing at a good pace and more investors are now investing in the mutual funds.

Some of the investors are feeling difficult to invest funds in the schemes at a single time. If they get a chance to invest on a monthly basis, it will be easy for them. So the mutual funds introduced the “Systematic Investment Plans” for the investors. In this SIP Plans, the investors can invest on a monthly basis. The minimum investment amount to be invested per month is Rs 500. But some companies have some schemes which has the minimum investment amount of Rs 100 per month. For example, SBI Chotta SIP and Reliance schemes have a minimum investment amount of Rs 100 per month.

Click here to download —->> Top Performing SIP Plans

Some of the best SIP Plans to invest for the year 2010 are:

HDFC Tax Saver Fund
SBI Chotta SIP plan
SBI Magnum Sector Funds Umbrella – Contra Fund
SBI Magnum Sector Funds Umbrella – Emerging Fund
Reliance Equity Fund
SBI Midcap Fund

There are lot of schemes that has SIP Plans to invest. But you have to spot the best by analyzing the returns given by them in the past 6 months, 1 year and 3 years.

How to Find the best SIP Investment?

Get the details of the returns given by the SIP plans. You can spot the best plan by analysing their returns. The details are available in related websites.

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Article from articlesbase.com

top sip in india

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