Wealth management firms are about so much more than financial products and services. From the places we come from, to the places we will go, high net worth management is designed to meet the unique needs and financial desires of affluent clients. And what better way to understand those needs than with wealth management services provided by professionals living in your own community of Pleasant Hill?
Unlike traditional notions of financial planning or advising, wealth managers in Pleasant Hill are equipped with skills and experience that meet the demands of high net worth individuals living in or near the Pleasant Hill community.
Wealth management offers affluent clients a range of financial products and services. This inclusive ideology is the foundation for a consultative process that explores each client’s specific desires and financial needs on a case-by-case basis.
Financial planning and wealth management have similarities; however, it’s fair to assume that high net worth individuals may require a different set of skills and experience not customarily needed by the average American household.
This is why wealth mangers, and successful wealth management companies, distinguish their financial products and services to offer affluent clients a more holistic approach to their financial needs.
Wealth management service Pleasant Hill can help secure and perhaps strengthen an individual’s financial future.
Common services afforded by wealth managers in Pleasant Hill include long-term financial planning, retirement, estate planning, accounting, and other tax services.
Wealth mangers often specialize in several financial products and services, or may work in teams of professionals that specialize in unique areas. In either case, wealth management benefits from this inclusive approach to financial services, coordinating the appropriate financial products and services, which may in turn benefit the client’s financial future.
Pleasant Hill residence in need of high net worth management should look for wealth mangers equipped with skills that reflect the unique needs and desires of people living in this unique community.
To learn more, check out https://www.destinationwm.com/Comments: 0 Read More
Credit card reward programs are not only convenient, but also allow you to earn some major bonuses like travel, merchandise, and even free cash. If you learn to be smart with your cards and take advantage of the many reward programs available, you can be looking at a big payoff.
Figuring out how to use credit card reward programs can be confusing, so it’s worth your while to check out the different types of reward programs and how you can benefit from them. Look through these tips on how you can profit from your credit card rewards.
There are all sorts of rewards programs out there that allow you to accrue points towards merchandise, gift cards, travel miles, points, and even cold hard cash. By aligning your your reward program with your interests and goals, you will get the most out of your credit card.
If you like to travel, you need to be using an airline miles reward card. If you regularly charge things like gas and groceries, look for a credit card that offers cash back for everyday purchases. Be careful and don’t pick a rewards program that you aren’t likely to use. You spend money everyday, so why not get a little something back every time you make a purchase.
If you want to get really fancy and optimize all sorts of rewards programs, you should use multiple credit cards for different purchases. Some cards are better suited for certain expenditures, such as the Chase Sapphire card for home insurance payments or the Express Blue Cash card for groceries. The end goal is to maximize the potential rewards with every purchase made.
Many money experts will tell you that having lots of credit cards can be problematic. The real problem isn’t the credit cards; it’s the spender who can’t pay off their balances in full each month resulting in fees and interest charges. I recommend this multiple credit card strategy only if you are a responsible money manager and consistently pay off your balances.
Cash back rewards give you money to use for whatever you want. Obviously, this is a great option for everyone—who doesn’t like cash back? In fact, cash back rewards are nearly three times more popular than airline rewards or hotel rewards programs, according to CreditCards.com.
The beauty of this option is that you can apply your rewarded cash to anything, including your outstanding balance. So if you can’t decide what credit card reward program to sign up for, start out with a cash back reward card. You really can’t go wrong with getting cash for spending cash.
Make sure you read the fine print when signing up for a rewards card, otherwise you may end up costing yourself money. You’ll want to look for fees, annual percentage rate, and promotional rate terms. If you don’t understand the terms to which you are agreeing, you could be in for a nasty surprise when the promotional period ends.
Also, credit card companies are notorious for changing these terms. They will notify you, but chances are you won’t see the tiny notification they provide in the dense snail mail notice. Keep your eyes open for any notices from your issuer to make sure your reward program does not make any detrimental changes to your rewards program.
Reward points can expire, so make sure you read through the fine print to know that expiration date. Typically, expiration is 12 to 18 months, but it’s always a good idea to know for sure in order to fully profit from the program.
If you learn to manage responsibly and match your credit card to your spending style, you will benefit greatly from the rewards program.
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Crush the PMP Exam is an online resource dedicated to helping professionals pass their PMP exams on their first try by reviewing online pmp certifications and providing individualized recommendations.
Investing in property is an expensive and complex process, so it’s important to get it right first time. As your experience and knowledge grows, so the rules become more like “guidelines” to consider, but for the first-time investor it’s critical to maximise your odds of the success.
What follows are some of the more common mistakes made by inexperienced real estate investors, in order to help your first experience of buying investment property a successful and enjoyable one…
Knowledge, as they say, is power. Never is this more true than when stumping up for your very first property investment. In general, it’s better to carry out thorough, detailed research on any area, market or property type before you push the button.
Better to miss a few good deals along the way, and approach your very first purchase with confidence, than to find yourself saddled with a dud that is haemorrhaging money and nobody wants to buy off you.
But what should your research entail? Here some smart ideas to get you thinking…
Property Prices – How much are properties in your target area worth? What factors are affecting these prices, what can be done to increase the value of a property and what is the ceiling on rents?
Each area will typically have these market limitations – your goal should be to educate yourself enough that you can spot a well-priced property, you can quickly identify effective ways to increase the properties value, and you have a fair understanding of how much rental income you can expect.
Marrying these elements together ensures you go into a purchase with your eyes open, confident that you’re buying a property that stacks up financially.
Local Audience – Who is renting properties in your target area? Are these young professionals or families, for example? Investigate other rental properties, asking yourself what these potential tenants may like to see in a property.
Also, consider the specific location; will your tenants need access to transport routes, for example, and are those trendy bars down the road a good thing or a bad one?
Predicted Market Conditions – The property market is never static. Areas rise and fall in popularity. New employers and urban regeneration can rapidly turn a less-appealing place into a property hotspot. Just as importantly, interest rates can (and do) go up. While it is impossible to predict the future with any degree of certainty, it does make sense to run a number of models to see how you could be affected.
While investing close to where you live may cut down on the research necessary, it’s important to realize that rental yields can vary massively across the country. In the UK, for example, 2016 saw a 2.2% drop in London property, while investment properties in Manchester offer far better rates averaging 6.2%.
The same pattern plays out in each country, at various scales. Even within a single city the yields can vary dramatically from one area to another. So while doing your research don’t just limit yourself to the area in which you live. Instead, be willing to think “outside the box”, using local agents if necessary, to source and manage properties wherever your returns are likely to be greatest.
Just as each area experiences oscillations in property prices, so too do interest rates. While these rates have been held at a historically low rate for the last few years, this is unlikely to last much longer.
Sadly, as interest rates rise, so too do the costs of variable-rate mortgages, leading to home-owners getting squeezed. It’s all too easy in the good times to stretch yourself too thinly, only to have a nasty surprise as rates rise.
Do your calculations so that you are confident you can weather interest rate changes without discomfort, and hold onto your investment property for the long term.
No property is free to run. While your tenants may pay all the utilities, as well as their rent, you also have a range of ongoing costs. From managing agents fees, to routine maintenance and taxes, the income you enjoy is unlikely to be 100% profit. Also, don’t make the mistake of assuming that your rental property will be tenanted every month of the year; tenants move out and it can take some time to find a suitable replacement.
When investigating your first property investment, therefore, don’t just consider your finances in terms of rental income minus mortgage payments. Instead, take a more intelligent and nuanced approach to your business plan, and only take action if you’re confident it still produces reliable, positive cashflow.
You might think it was foolhardy to buy a property without not only an inspection but also a thorough surveyors report. Yet all the same, every year investors get stung for their lack of research.
Arguably even worse are those who request the necessary surveys, then largely dismiss the findings. All too often, this ends in tears, as the buyer is obliged to fork out large sums of money to return the property to a suitable state.
This is arguably the easiest mistake of all to avoid. Seek the qualified guidance of a professional before purchase, and discuss indepth any potential issues that they have highlighted.
Since the financial collapse of 2008, banks have slowly tightened up their financing options for landlords. There are now fewer choices than ever before, and it’s all too easy to end up paying far more than you need.
From deposits to interest rates, from paperwork requirements to insurance, each lender is different. So don’t jump at the first offer you get, but instead shop around in order to find the very best deal possible. Sometimes an unprofitable deal can suddenly become financially viable with the right financing. Of course, in contrast, the opposite is also true.
It’s worth re-iterating here that many investors – both large and small – have made considerable sums of money from property. Whether the choice is flipping a property in cosmetic distress, or buying to rent out, everyone from teachers to train drivers are preparing for the future by growing their savings through property.
This article, therefore, is not intended as a source of scare-mongering. It’s also not intended to knock property as an investment vehicle in any way. Instead, the goal here is to better prepare you for selecting the right investment from the outset – and helping you leapfrog over less experienced investors.
With a little time and effort, anyone can become a successful property speculator. All you need is the grit and motivation to get started.Comment: 1 Read More
As the best alternative to other loan types, a Guarantor loan may help you achieve your financial goals or get out of a financial mess whenever you want. It has been used by many people to achieve either of these purposes.
However, there are some important factors you must consider before you fill out a Guarantor Loan application form. Consider these few factors:
Many people went into taking a Guarantor Loan without enough information to help them make the right decision. Here are the possible questions and useful tips that will play an influential role in deciding whether to go for this type of loan or not. Whatever you decide, work towards prompt payment to save your guarantor the embarrassment of making involuntary loan repayment for you.Comments: 0 Read More
Micro-apartment fever has taken Germany by storm.
As the name implies, micro-apartments are small flats – typically between 20 and 30 sq. m each – that contain only the bare essentials, i.e. a sleeping space, a bathroom with a shower and a kitchenette. Most micro-apartment buildings contain self-storage units, laundry facilities and communal lounge areas to accommodate for the lack of space in each flat.
Despite their Spartan conditions, micro-apartments have proven incredibly popular among a certain demographic in Germany – so much so that developers are scrambling to expand the market.
German newspaper Frankfurter Allgemeine Zeitung reported there are presently about 25,000 micro-apartments in the country, and several thousands more are set to be built by the end of 2018. The projects will receive state support: the federal government plans to invest €120M in the micro-apartment market expansion.
Where is the demand for micro-apartments coming from?
The German micro-apartment market targets over 30 million people, including students, singles and tenants whose primary places of residence are far from the big cities they work in.
In recent years, one-bedroom flats have proliferated; between 2011 and 2014, their growth rate was double that of the country’s total apartment growth rate.
The increased popularity of small residential properties is likely attributable to a notable uptick in one-person households over the past several decades.
In 1961, flats occupied by one tenant accounted for 21% of all German households; by 2012, that figure had nearly doubled, reaching 41%. This trend is attributable to a declining birthrate, decreased marriage rates and a general increase in the popularity of living alone.
Though micro-apartments traditionally targeted students and commuters who only live in the city on weeknights, their target demographic has expanded to include singles of all age groups who wish to reduce their monthly rental costs.
Due to their minuscule size, micro-apartments in large German cities rent for an average of €400 per month. For comparison, according to cost of living database Numbeo, a one-bedroom apartment in the center of Berlin typically rents for nearly €700 a month, and the same in Munich typically goes for nearly €1,000.
Because of their relative affordability, micro-apartments are very popular among prospective tenants from all walks of life.
They are particularly appealing among tenants looking to rent on a short- to medium-term basis.
In Germany, tenants traditionally face considerable obstacles when trying to rent for anything less than the long term – such as the obligation to pay a security deposit equal to three months’ rent and heightened credit history scrutiny. To the contrary, micro-apartments tend to cater to short- to medium-term renters.
They also boast a plethora of comforts that are tougher to find in standard apartments. Most are newly built and fully furnished and equipped. What’s more, a range of apps now exist that enable tenants not only to choose their apartments, but to outfit them with a custom selection of dishware, home appliances and furniture – all from their mobile phones.
Micro-apartments also offer creature comforts that hotels and other types of short-term rentals lack, such as private kitchens and bathrooms.
For all of these reasons, demand for micro-apartments is high across Germany, and is only expected to soar further in the future, particularly in such cities as Berlin, Hamburg, Munich and Frankfurt, whose populations are growing at rates of some 1-2% each year.
Why investors and developers love micro-apartments
Micro-apartments aren’t just a smash among tenants; more and more property investors and developers are flocking toward the trend.
More than 50% of Tranio.com’s clients have expressed an interest in
Micro-apartments in major Germany cities sell for as little as €100,000. As German banks offer non-residents up to 50% LTV loans at 2% p.a., foreign investors can pay just €50,000 upfront to cash in on this trend.
Financial institutions are offering such low interest rates for micro-apartments because they have observed their growing popularity and relative liquidity.
Micro-apartment owners also take comfort in relatively high turnover rates. Though rental terms vary broadly, a typical micro-apartment lease runs for a period of three to six months. This minimizes the eviction-related risks typically associated with standard apartments and long-term or perpetual rental contracts.
Furthermore, high-demand and low rental rates all but guarantee 100% occupancy, minimizing the risk that the owner will lose rental income during lengthy vacancy periods.
The short-term nature of micro-apartment lease agreements also empowers owners to increase rent in order to keep up with market demand.
Traditional landlords often face significant limitations in this regard. For instance, local regulations in Berlin prevent landlords with long-term tenants from raising rates by more than 10% above the average rental price in a given district, or in general by my more than 20% over the course of any three-year period.
And for foreign investors, as well as local investors that don’t wish to actively manage their rentals, the German market boasts numerous property management companies that can resolve all tenant-related, administrative, payment, insurance and maintenance issues. Some such companies even offer renovation services.
This option enables owners to reap all the benefits of a rental property without having to take on the grunt work traditionally associated with being a landlord.
Developers also have a great deal to gain from micro-apartments as they can sell them at higher prices per sq. m. than they can larger flats. This boils down to a basic tenet of the property market: the smaller the flat, the higher the price per square meter.
New developments tend to sell out well before they hit the market. Investors purchasing micro-apartments in 2016 will likely have to wait until 2017 or 2018 for their purchases to materialize.
In short, everyone has something to gain on the German micro-apartment market: tenants get inexpensive and quality accommodations, investors can earn solid yields with a low market entry threshold, and developers can earn excellent revenue per square meter.
By: George Kachmazov, managing partner at Tranio.com
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