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Do it Now! Start Planning Your Retirement Strategy
Apr 4th
You’ve worked hard all your life and one day the big day will arrive – you’ll retire. For now it probably still seems a long way into the future, but the reality is that the sooner you get ready for retirement, the more you’ll benefit when that day comes. Starting in your 20s or 30s is the best time to start planning financially for your retirement, but most of us are a lot close to retirement before we really get serious about preparing. But if you’ve ever heard of compounding when it comes to investments, then you’ll know that the more time you give your money to compound, the faster it grows.
The other important thing to remember is that expected lifespans have increased substantially in the law few decades. Not that long ago, someone would retire from work, maybe enjoy their retirement for five years or so, and that was it. It’s increasingly common for both men and women to live well into their 80s, with the average expected lifespan hovering around 80 years old. It’s very possible that you’ll retire and live for another 20 or 30 years afterwards. Yes, you will probably be able to survive with government assistance – but that’s all it will be, survival.
Yes, financial planning for retirement takes some effort; it doesn’t just happen by itself. You’ll need to dedicate time and discipline to preparing your strategy. But it will well and truly be worth it when you reach your golden years. If you’ve never been taught anything about your finances, this whole concept of preparing a retirement plan can be very daunting. You’ll need to spend some time acquiring some knowledge and skills. It’s also important that you don’t focus so much on retirement that you leave yourself without enough funds to enjoy your life right now. Balancing between present and future needs can be very difficult, but if you decide to succeed, you’ll find a way.
The good thing is that there’s a huge amount of information available to help you learn about financial planning for retirement. So there’s no need to panic. You don’t need to become a genius at trading stocks; you only have to know the basics of how it all works. Spend some time searching the Internet for information, and you’ll find lots of reputable bodies, including stock exchanges, that provide free information. There are also retirement planning companies that specialize in helping people just like you.
Remember, too, that you don’t need to know everything yourself, or even do it all yourself. Plenty of financial planners can help you with your plans and goals, and some will even perform transactions on your behalf. Ask around for referrals from family and friends, and arrange to go and meet planners from a few different firms. This will help you decide which one you feel comfortable dealing with. It’s always worthwhile learning at least a little about different sorts of investments, so that you can fully understand the decisions you’re making, but a good financial planner will still be able to do any necessary research on your behalf.
Retirement probably still seems a long way off, and it’s probably much easier to put off doing some financial planning until tomorrow. But the earlier you get started, even if it’s just expanding your financial knowledge, the more you’ll benefit in the end. Time has a tendency to disappear much quicker than we expect, so don’t suddenly wake up at the last minute and realize you’ve missed your chance to retire in financial comfort.
Coffee And Tea – Caffeine Source Revealed
Apr 2nd
Caffeine, that magical element in coffee that shakes you up and wakes you up, is present in an even greater amount in a sister beverage known as tea.
We are all busy and a lot of us are overloaded with work. Managing a family and at the same time juggling a packed schedule can prove to be a daunting task. Under such circumstances, a dose of freshly brewed coffee or tea is the best thing that keeps people going.
Coffee and tea can be consumed in different ways in different seasons. During the winter and cooler months, when we wish that everything liquid could pass over our tongues and down our throats, should be warm or perhaps scaling hot. Brewing becomes an affair involving steaming cups of coffee and tea being served with wild abandon, not just for the freshness of the drink, but also for the warmth they provide by the additional caffeine supplied energy. Come summer and the recipe changes. Coffee goes into the blender instead of the coffee pot, where it is joined by ice cubes and other ingredients to make a cool shake. Tea manages to escape the violence of the blender and gently seeps away into ice water.
While previously, both coffee and tea were available in the state that they were grown. There is a choice available today, in the sense, that you can purchase either of them as caffeine free (decaffeinated) products.
Caffeine is good, but for people with sensitive sleep cycles it can be a bit of a bother. There can be a craving for coffee and tea at odd times (like just before going to sleep) and a cup that is not decaffeinated can keep these people awake for a long time. By choosing the decaffeinated option, they can enjoy their coffee and tea more casually.
What remains a constant mystery is that downers made out of alcohol are such great party makers, while the brain sharpens and activity enduring caffeine laced beverages like coffee and tea are more associated with comfort.
Most people will usually stick to either coffee or tea as their caffeine beverage of choice. This distinction can get pretty difficult when you consider that there are plenty of people who will drink coffee at certain times and switch to tea at other times, all within a single day.
There are even some places and cultures where the beverage is chosen, not on the basis of the time of the day, but on the gender of the drinker. When you are over there, you will notice that tea is decidedly a ladies’ drink (much like gin and tonic) while coffee is bit more like cigars and usually men indulge in it.
However, like everything the beverage culture is also undergoing a change and today the choice of beverage is solely dependent on personal preference.
The Owner’s New Role After the Business Sale
Mar 30th
When economic times are uncertain, business buyers become very cautious about a potential merger acquisition transaction. They attempt to negotiate for a lower price, but they also try to negotiate for the seller to have a significant interest in the post acquisition performance. This results in less cash at close and more of the transaction value tied to an earn out based on future sales of the acquired new division or business unit.
The buyers, especially experienced buyers, know that one of the key mistakes is to underestimate the amount of time and effort it is to institutionalize this new business. It takes a good deal of time to transfer the intellectual capital from the target company to the buying company. Converting customer loyalty to the new entity is not an automatic. Meshing corporate cultures can be problematic and good employees may leave. The owner is almost always viewed by the buyer as a critical element to the future success of the new division.
How is this reflected in the transaction? If the buyer views the owner as the center of her company’s universe, owning all the customer and supplier relationships, possessing all the intellectual capital, and taking on the identity of the company, the transaction will involve a large earn out over several years. If the owner has done a good job of developing a management team and has delegated herself out of day to day operations, then the cash at close will be much greater and the earn out period will be reduced.
A great deal of a buyer’s due diligence will focus on the owner’s current role in the business and her role post acquisition. Forgive me for a broad generalization, but most lower mid-market businesses we have worked with have an owner that is a passionate subject matter expert that started the business almost as an afterthought. They are not necessarily skilled as CEO’s and really do not enjoy the administrative duties required to run a small business. One of the reasons they are selling is to remove themselves from that grind of administrative duties.
That is a great platform to present to the buyer. The buyer usually has the infrastructure to handle that and does it much better than the target company. They are buying the smaller company in order to leverage their assets and grow at a much more rapid pace than the smaller company could grow on their own. The buyer wants to remove all the barriers for their new subject matter expert, provide her additional resources and support, and let her do what she does best – sell her product or service.
As the business seller, if you take that message to the buyer, you will find that the buyer will feel more comfortable about the risk profile of the potential acquisition and you will get more favorable terms. Unfortunately, many times the seller over communicates how tired they are and how much they want to get away from the pressure cooker environment they currently have. We have literally watched this unfold in the most unfavorable way for our sellers. When this message comes out, the earn out period gets extended and the cash at close gets reduced. The more the seller wants to get away the greater the buyer’s attempts to lock her up for an extended period.
The lesson here is that if you are a smaller mid-market company and you want to receive the maximum value for your business, count on staying involved for a reasonable period of time post acquisition to insure the success of the buyer’s new division. The buyer will structure the transaction so that you do have a vested interest in this success. It is acceptable to the buyer that you do not enjoy the day to day duties of being a CEO. They are counting on that because they already are performing that function. You can proactively present your vision of your new role in a way that will be received very positively. I want to be the product evangelist. I want to be the promoter at industry events, speaking engagements, blogs, and industry publications. I want to focus on integrating the two companies and helping with the strategic plans. If you position it this way, the buyer will be more generous with the cash at close and will be less likely to try to lock you up for an extended earn out period.
Natural Health Medicine Versus Chemical Health Medicine
Mar 28th
Our bodies are like our cars. They need to be properly maintained in order for them to function at their best. Therefore the right mechanic is needed when our cars break down and the same applies to your body.
The best thing is to find the best medicine that will be fast and effective. And in the health market out there, there are tons of medicines that will promise to do just that, yet at the same time, the small print tells us to beware of the side effects.
This little warning is one that we often ignore. Yet at the same time it is important to acknowledge its existence so that we do not end up making ourselves even sicker.
Natural health medicine has the benefits in that it is one of the few medicines that have little or no side effects. The only side effect that it might have is if you are allergic to a certain ingredient and you didn’t know it.
While, with chemical health medicines, you are more likely to experience some side effects, as the warning messages clearly state. That is because many people are allergic to most chemicals, which means their bodies will react in a negative way in order to expel the allergen.
Chemical health medicine does, however, also work, but the side effects make it less appealing.
In the long run, using natural health medicines will clearly be better for your body, as they will achieve the same result, but over a long period of time. Rather than bombarding your body with harsh chemicals, natural health medicines help your body to fight disease and cleanse itself while fortifying it with nutrients to prevent further pathology.
At the end of the day, it is important to choose the right medicine for your problems. If you simply want a quick fix for your problem, then concentrated chemical medicines might be the answer; if, on the other hand, you want a longer, more sustainable solution to your problem, you should definitely use natural health medicines.
Business Ethics: Three Tips to Stay in Integrity with Yourself
Mar 26th
Wow — every day seems to bring us a new story about business ethics wrongdoing! Is America headed to hell in a hand basket because of a serious lack of ethics at the highest level in American business? Or, it is just that ethical transgressions are more visible now? Or is it that the media reports more? Whichever it is, I urge you to be concerned about business ethics, even if simply for yourself.
A few facts will raise your awareness about the current state of ethics in American business. The Ethics Resource Center notes that the number of ethics programs is on the rise in corporate America. Unfortunately, the center also notes that ethical misconduct is high. (Google “The National Business Ethics Survey” for more details.) Other research shows that a majority of people in America have quit a job due to an ethical concern at sometime in their lives. (Google “lrn” for more details.)
You may believe there isn’t much you can do about ethics in American business. But, you can choose to follow a high standard of ethics for yourself.
Here are three simple tips to stay in Integrity with Yourself:
1. Listen to your gut. If it doesn’t smell right, it probably isn’t. Don’t risk your reputation by going along with something that is fishy. Sometimes in the work place, what the policy says to do and what people are doing are two different things.
For instance, if you go to lunch with a co-worker to discuss business and you each spend $11.95, which is all you can claim on your business expense forms. But, your coworker may encourage you to submit a claim for $23.95 (since the policy says you don’t have to submit a receipt until the amount is over $25.00, per IRS rules.) Your coworker may even say everyone pads their expense report. This action would be a quick way to double your cash back, but you know it isn’t right. Don’t cave-in to the peer pressure or temptation. Just don’t do it!
2. Ask questions. Sometimes what you know is not the whole story. Ask questions to fill in the gap. Don’t assume. Something you don’t know may make what looks wrong actually be a good thing. As the former Director, Ethics and Compliance for a $1.5B company, I learned to ask questions before forming a judgment.
For instance, I know of a case where a manager became aware that his employee had lied about his whereabouts during the work day. One appropriate action would have been to discipline the employee or maybe even fire him. Another appropriate action would have been to extend a little compassion for the employee, who was under some external stresses, and work more closely with the employee to help him manage his time better. Asking a few simple questions revealed the external stresses, which opened doors to alternative resolution of the problem.
3. Keep an open mind. There is rarely an unequivocal right or wrong answer in any ethical issue.
For instance, an employee reported to me that he believed a co-worker was falsely claiming an important professional certification. I asked him why he thought that, and he said that the person didn’t seem to demonstrate the knowledge base required for certification. He also said he had checked the certifying agency’s website to find the co-workers name without success. Since falsification of job qualifications is a serious offense, I went to the website to check for the name too, and asked an internal recruiter to verbally check with the certifying agency.
As it turned out, the person under suspicion had registered at the website with his formal name, not the nickname he used at work; as a result his name wasn’t recognizable at the website. Only by triple checking the website and making a phone call to the certifying agency were we able to get the whole story.
Stay in integrity — do what YOU think is right and stay in good conscience.Wow — every day seems to bring us a new story about business ethics wrongdoing! Is America headed to hell in a hand basket because of a serious lack of ethics at the highest level in American business? Or, it is just that ethical transgressions are more visible now? Or is it that the media reports more? Whichever it is, I urge you to be concerned about business ethics, even if simply for yourself.
A few facts will raise your awareness about the current state of ethics in American business. The Ethics Resource Center notes that the number of ethics programs is on the rise in corporate America. Unfortunately, the center also notes that ethical misconduct is high. (Google “The National Business Ethics Survey” for more details.) Other research shows that a majority of people in America have quit a job due to an ethical concern at sometime in their lives. (Google “lrn” for more details.)
You may believe there isn’t much you can do about ethics in American business. But, you can choose to follow a high standard of ethics for yourself.
Here are three simple tips to stay in Integrity with Yourself:
1. Listen to your gut. If it doesn’t smell right, it probably isn’t. Don’t risk your reputation by going along with something that is fishy. Sometimes in the work place, what the policy says to do and what people are doing are two different things.
For instance, if you go to lunch with a co-worker to discuss business and you each spend $11.95, which is all you can claim on your business expense forms. But, your coworker may encourage you to submit a claim for $23.95 (since the policy says you don’t have to submit a receipt until the amount is over $25.00, per IRS rules.) Your coworker may even say everyone pads their expense report. This action would be a quick way to double your cash back, but you know it isn’t right. Don’t cave-in to the peer pressure or temptation. Just don’t do it!
2. Ask questions. Sometimes what you know is not the whole story. Ask questions to fill in the gap. Don’t assume. Something you don’t know may make what looks wrong actually be a good thing. As the former Director, Ethics and Compliance for a $1.5B company, I learned to ask questions before forming a judgment.
For instance, I know of a case where a manager became aware that his employee had lied about his whereabouts during the work day. One appropriate action would have been to discipline the employee or maybe even fire him. Another appropriate action would have been to extend a little compassion for the employee, who was under some external stresses, and work more closely with the employee to help him manage his time better. Asking a few simple questions revealed the external stresses, which opened doors to alternative resolution of the problem.
3. Keep an open mind. There is rarely an unequivocal right or wrong answer in any ethical issue.
For instance, an employee reported to me that he believed a co-worker was falsely claiming an important professional certification. I asked him why he thought that, and he said that the person didn’t seem to demonstrate the knowledge base required for certification. He also said he had checked the certifying agency’s website to find the co-workers name without success. Since falsification of job qualifications is a serious offense, I went to the website to check for the name too, and asked an internal recruiter to verbally check with the certifying agency.
As it turned out, the person under suspicion had registered at the website with his formal name, not the nickname he used at work; as a result his name wasn’t recognizable at the website. Only by triple checking the website and making a phone call to the certifying agency were we able to get the whole story.
Stay in integrity — do what YOU think is right and stay in good conscience.
Careful Management is Key to Keeping Credit in Good Standing
Mar 24th
Credit is a way of life in America. It allows consumers to make improvements on their home, purchase goods, and establish a credit history – a necessity for securing credit in the future. But for those who have chosen to “play now and pay later,” a lapse in credit can have adverse effects, making it harder later to secure a mortgage, car loan or business loan.
Avoiding the bad credit trap in the first place is an important lesson to learn, but for those who need to improve their financial reputation, there are ways to handle debt effectively, re-establish credit, and improve one’s score in the process. Because a person’s ability to obtain a loan is dependent on his or her credit score and past credit behavior, careful management is key to keeping credit in good standing.
The most effective way to maintain good credit is to control spending. Those who are overextended financially need to take a step back, re-evaluate their priorities, and set up a budget to regulate their spending. Debt can beget debt as it gets harder to stay on top of financial commitments or prepare for future expenditures. Living below one’s means creates a cushion to set aside for unforeseen expenses. It can also free up money to pay down debt more quickly and improve credit.
Another step to maintaining positive credit is to pay bills on time. Delinquent payments lead to late fees and accrued interest, which may all be negatively reflected on a credit report. If a late payment can’t be avoided because of an unexpected situation, it’s important to contact the lender or credit card company as soon as possible to discuss the situation.
Often, the lender may be willing to change the conditions of the loan or credit, such as lowering interest rates. Staying in contact with the lender through the situation shows earnest intent to repay the loan. Always contact a lender if an error on a bill is discovered.
The more credit cards an individual owns, the higher the potential for falling behind in payments. Creditors are careful to look at this debt potential in a credit report when considering a loan application. While experts do not necessarily recommend closing all existing accounts, even if they have a zero balance, it’s always a good idea to think twice before taking on additional debt.
Keeping debts reasonable demonstrates to creditors that an individual can handle their debt responsibly as well as pay off loans or credit cards. In fact, experts recommend that non-mortgage debt not exceed 10 to 15 percent of monthly take-home pay. For those who have a higher rate of debt, make a plan to pay off or reduce it before applying for another loan.
It’s always a good idea as well to avoid unnecessary inquiries into one’s credit report. When a creditor, employer or other business is given authorization to check your credit, an inquiry is added to the report.
Often times, a consumer may be shopping for a new home or car and several inquiries may be made in a short amount of time. Creditors recognize we are a consumer society and these inquiries should not have an adverse affect on an individual’s credit report. However, if inquiries are made too often, this can and will affect the score, as creditors may decide the credit is being applied for because of financial difficulties or that more debt is being taken on than can be responsibly handled.
While it’s necessary to handle debt responsibly and pay bills regularly, it’s also important to check one’s credit report at least once a year. Often times, inaccurate account information, an old home address, or misspellings are reported. Every American has access to their credit report for free once a year to review the report and take the necessary steps to correct inaccuracies.
Smart consumers know the best way to keep credit in good standing is careful management that will enable them to build a good credit history, manage money effectively, and avoid debt traps that hurt credit.
Software development education
Mar 22nd
Since several years ago software development has invaded, in a positive way, our lives. Every task you should face in your daily routine has some connection with certain systems or programs: education, entertainment, work, etc.
Nowadays, there is such amount of software development courses offered in traditional educational plans or in online courses that it is impossible not to feel involved in the revolution of software development focused on the best part of our destiny: education.
Since several years ago software development has invaded, in a positive way, our lives. Every task you should face in your daily routine has some connection with certain systems or programs: education, entertainment, work, etc.
Nowadays, there is such amount of software development courses offered in traditional educational plans or in online courses that it is impossible not to feel involved in the revolution of software development focused on the best part of our destiny: education.
In today’s technology-driven universe, people who want to become software developers have a special opportunity of making their dream a reality. Computer software developers or engineers are thought to be one of the most required professionals.
If you are one of those students that expect to devote their life to improving and creating software development, you will need to understand how to use principles and techniques of computer world.
After getting your degree, it will be vital to acquire new skills to keep your knowledge updated. IT is one of the areas that changes faster than any other within scientific world.
Some of the marvelous applications, systems or programs you will be able to use, improve or even modify are CRM, Databases, ERP, Hosted Apps, Server Virtualization, Linux and Software Blog, among others.
One of the Universities that offer a significant educational possibility for those who want to be experts in software development is the Indiana University of Pennsylvania. They have a Software Development Center that provides students with real-world practice in designing and developing quality software to offer their future clients the best prospect in the market.
Remember that if you are dreaming about software development, you will need all the best educational tools to get the top rank within professional world. Do not waste any opportunity to improve your knowledge in this university or in any other you prefer.
Negotiation Tactics: Smart Ways to Gain the Upper Hand in Real Estate
Mar 20th
The reality of any negotiation is that it is an exercise in psychology. Realistic market factors play their role, but final decisions are usually made based on perception. How the seller perceives you, the investor, will influence the deal. Here are some tactics to tip the scales in your favor.
Successful negotiators are always one of two things: extraordinarily prepared, or really good at conveying the impression that they are prepared. The problem with the latter is that the bottom can drop out. Even good actors can run out of tricks when they aren’t completely prepared. You don’t want the other person involved in the deal to see you bluffing.
The best way to avoid this is to simply be more prepared than the other person. Know everything about the area, type of property, similar properties, prices, and market fluctuations. Do your homework. That way, you can come into the situation confidently. The minute you waffle is the minute someone else gets the upper hand.
The next link in the chain is to ask about what you don’t know. Coerce the opposing party into divulging any information that can be useful to you in your negotiation. This is one of the best ways to break down the fortress to get to your best deal. Bombarding someone with questions is unnerving. You don’t want to make them so uncomfortable that they choose to step away, so pull back before they do and come at the negotiation from a different angle.
Essential questions to ask are those that uncover the true motivation of the seller. This requires a little more tiptoeing than some other situations because offending the other party will kill the deal. However, in order to form the situation to your advantage, you’ve got to understand what the seller wants.
Successful real estate investors know that you’ve got to purchase from motivated sellers. Sellers who are simply toying with the market aren’t going to give you the best deal and will waste your time. Find out before you get too involved in the negotiation process if the other party is truly interested in selling the property.
Be firm. Be in control of the situation but not overbearing. Come across as too overbearing and you will appear the opposite of in control. Strike a fine balance. Choose your words carefully and actively. Avoid being passive. State what is going to happen.
Know the value of a good silence. This can be applied at any time, but it takes a good instinct to know when. Use silence to your advantage. When the other party has shot back with a demand or an offer that is outside of your preference, be silent. Allow them to feel a bit doubtful, ill at ease. If they have to second guess their own tactics, you are already gaining an upper hand.
Learn from the best. Seek out someone you trust who knows their stuff and see how they operate. The most successful property investors know you don’t learn negotiation tactics simply by reading about them. Negotiation is a skill best learned by observation. Observe their mannerisms and pay close attention to what is said and what is left out of the conversation. Use what you see as a basis for how you operate. Model, but don’t imitate. If you act in a way that is foreign to you, it becomes very obvious.
Practice negotiating in your everyday life. This doesn’t mean you have to haggle with a gas station attendant. Negotiation isn’t just getting your way. It is the skill to convince. Try it out with members of your family or during discussions on the job. Remember to be perceptive and study the psychology of others around you. If you can sense what they want, it can always be used to your advantage.
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