No one who invests money expects to be caught in a Ponzi scheme. After all, Ponzi schemes are illegal!
Still, many investors are now finding themselves at a loss because they were duped by investments that appeared to be legitimate.
Here are some basic tips and warning signs, so you won't be taken advantage of or caught up in a Ponzi scheme...
Charitable contributions may be the last thing you have on your mind during tough times.
But, the truth is, giving away money, time, and items is always a good idea.
Here are the top 3 reasons to consider making charitable donations this year...
While I don't exactly recommend keeping money under a mattress due to possible theft, fire, or flood, according to Bankrate.com, checking account fees are bleeding us dry.
Using an ATM costs an average of $1.97 -- and that's when you use your own bank.
The average charge for out-of-network ATM fees is $3.43.
In addition, overdraft protection has gone up 2.5% in the last year and currently averages $28.95.
If you want to earn interest on your checking account, you need to pay a yearly fee of $12 and keep a minimum balance of $3,500.
Why are we dealing with such high bank fees right now?
The high fees come at a time when banks are struggling to unload bad mortgage loans. Some analysts say that banks are making up for loan losses by charging higher penalties -- and doing so more often -- to bank and credit card customers. -- ABC News
Some of these bank fees can be avoided.
Here are some things you can do to keep a handle on bank fees...
A financial planner is a business professional who helps people make plans to be financially secure in their future.
Services include:
cash flow management
education planning
retirement planning
tax planning
estate planning
While many people may be perfectly capable of managing their own finances, they may not be educated in all aspects, or may not have the time to keep an eye on their money and financial plans. Those are the times when it makes the most sense to hire a financial planner.
Wondering how to invest in the stock market for the first time?
If you think that playing the stock market is out of your reach because you just don't understand how to do it, then you're not alone. Trust me.
In the past, I dabbled a little in stocks, using an online investment service to invest $10 a month. I was very conservative. When it was time for me to buy a house, I sold my stocks (which had done well in spite of my lack of knowledge) and pulled out knowing that I was making wild guesses at best.
That was really no way to invest in the stock market. Still, I have always wondered about how to go about gaining the knowledge for investing in the stock market wisely.
If you didn't pick up your Series I savings bonds by April 30th, it may be too late to bother now. On May 1 2008, the inflation rate on Series I Savings Bonds fell to 0% interest!
According to Bloomberg, this is the lowest these savings bonds have fallen since I-Series bonds (also known as Inflation-Indexed bonds) were introduced in the 1990's.
Fortunately, these bonds cannot fall any lower, as the return on I-Series bonds cannot go into negative numbers. If they did, bondholders would be paying interest on these savings bonds. With any hope, the rates on I-Series bonds will be adjusted upward when rates are reset on November 1st.
Financial guru, Clark Howard recently did a news story on how to make inflation pay off.
You had better believe this immediately caught my attention! I could not imagine a single way to make inflation pay off in my favor, but Clark Howard could.
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