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Start Planning Now For 2010.

The end of the year is not far away, and if you wait to do your 2010 planning you will start off the New Year a month behind.  Here is a great article that I found on MSNBC.com  titled: “Resolve to advance your career in 2009” Update your resume, focus on your goals and increase [...]

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What Is The SIPC?

The SIPC is often compared to the Federal Deposit Insurance Corporation (FDIC). The two organizations are actually quite different, due to distinctions between the types of finances that the cover. The FDIC reimburses clients of failed banks for up to $100,000 US (USD), with the understanding that the depositors put their funds into the bank in good faith, and that they cannot afford to lose the money. The SIPC is specifically designed to protect investors from unscrupulous brokers. If someone is sold a worthless stock or the value of their stock declines, the SIPC will not protect them. If a broker steals funds from a client, the SIPC will provide reimbursement.

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Is The FDIC Bankrupt?

The FDIC Deposit Insurance Fund started 2008 with $53 billion. By March 31st of this year it had dwindled to approximately $13 billion. But there have been 56 bank and savings and loan failures since then. In fact, there were five bank failures last Friday.

So, how much is left of the Deposit Insurance Fund? A report published by Saxo Bank Research two days before the Colonial failure suggested that the DIF was down to $648.1 million. Colonial is expected to take a $2.8 billion bite out of the fund. And Community Bank of Nevada, which also failed on Friday, took a $781 million slice from the pie.

If that’s true, it means the FDIC insurance fund is technically bankrupt. But FDIC Chairman, Sheila Bair says it’s nothing to worry about. “The FDIC’s guarantee is as certain as ever,” she says. “Our industry-funded reserves have covered all losses to date.”

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Protecting Assets During Challenging Business Times

Small businesses are the engine of the economy, and when the economy sputters they often feel it first. In the current climate of uncertainty, many small businesses have cut expenses to the bone and tried to make their operations as lean and efficient as possible.

But even if a small business owner can’t control the marketplace, he or she can take steps to protect their key assets: the people the business relies upon.

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How To Develop Your Million Dollar Mindset

You can’t turn on the news today without hearing fresh reminders of the turmoil in the markets and the broader economy. In this uncertain climate, many people are anxious to try to find a safe place for their savings.

Two popular options are certificates of deposit (CDs) and deferred fixed annuities. Both are considered low-risk vehicles for building wealth; yet they differ in important ways. Which choice is better? The answer depends on your goals and priorities. The following information will help you determine which of these two products is best suited for your needs at this time.

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