How to save money by spending wiselyWritten by Willard Michlin
Why is it that older and richer people become, more conservative they are with their money? Have you ever done or know someone who has made an investment that promised a 10% interest or profit per month? Everyone wants to make above average profits. It is amazing how many people will send their very hard earned money across world to Nigeria or to Boca Rattan, Florida on promise of a telephone acquaintance to make them much richer. People give their money to complete strangers in hopes of making more money. All good investment advisers will tell their clients “If a deal is too good to be true, it probably is.” Professionals only make very high returns in areas they personally know very well. This, for them, is a business investment, not a passive investment like stocks, bonds or mutual funds. Real estate and business investments are considered active investments. People who are employed by others do not usually make active investments, because they just do not have time to watch a business investment, where big profits are always possible (as well as big losses.) People with small amounts of money come to me all time and ask: “What can I do with $1,000 that will give me a big return?” Here is answer. When I was a 21-year-old lad working for my father, I had money in bank, I owed securities (stocks) and my income was a fixed salary. I saw many opportunities to make money all around me, in business. My father, like so many employers, wasn’t interested. Besides I was trying to figure out how I could make money for me. At time, 1971, we had high inflation and prices were going up on many things. My father used metal rings to seal containers, nuts and bolts, paint, and other industrial supplies. I watched prices starting to go up and it appeared that they might even double on finished products that were made from steel. Since company used these products all time, buying bigger orders meant buying much more then you needed and having to store it so it didn’t get stolen. I used to buy 2 years supply of bolts at a time. Knowing price was going up, I bought a 4-year supply. Rings took a lot of space so we would buy 3 months at a time. The problem with new rings, being bought and laying around, in storage, was that workers, taking easy way out, would take new rings out of warehouse, instead of cleaning old rings, which saved company a lot of money. My father didn’t want to have a years worth of rings around, even though we both knew price was going to continue going up. We came up with an idea. I would buy, with my own money, extra inventory, amount above companies normal order size. My investment inventory would be stored in a separate locked area in warehouse. When company needed more rings or bolts, it would buy them from me at then current market price. I made $1,500 on my $5,000 investment in just six months. That was a 30%, no risk profit in just half a year. Now I was hot. When I got married, and I used more toilet paper and toothpaste than I did before, I decided that I should repeat process that I learned as a boy. When I was a boy toilet paper was 10 cents a role. If you do not know what it is now, take a look. I bought 5 cases of toilet paper and put it in garage. I knew that paper prices were going up. I not only got increase in price, I got close out quantity discounts by case. Do you know that dog and cat food by case is 10% off? Then if you wait for when Friskies has a sale or close out, then buy large cases; you cannot believe what you will save. If you can get a distributor or wholesaler to sell direct to you, another 20-33% is possible. You might check price at Costco. It may be cheaper than what wholesaler will sell it to you for.
| | High Net Worth Offshore BankingWritten by James Hennessy
High Net Worth Offshore Banking Accounts have never been so accessible. This is a very approachable bank offering full range of saving, investments and financing products. The minimum balance to open a High Net Worth account is $250,000 US Dollars. You are always welcome to visit this bank. Notwithstanding, it is not a requirement to visit them in order to become a client. ABOUT THE BANK This bank is based on Caribbean Island of Barbados. However traditions of this bank are of Canadian origin and date back 30 years. The banks auditors are Ernst & Young. The Barbados company was licensed as a Barbados Offshore Bank on 23 April 1996. Through its chartered operations, located in Caribbean Island of Barbados, bank offers a variety of financial services specifically designed for high net worth individuals and corporations. They provide Private Banking and tailored financial solutions, delivered with a high degree of personal service and attention. The Bank's client base is wide and varied consisting of both private and corporate clients. It provides private banking, fund management and investments. The bank has invested wisely in state of art technology to enable clients worldwide access to their bank accounts or investment statement. PRODUCTS This bank only specializes in individuals and companies of high net worth (more than $250,000) to invest. Whether it is a simple deposit into your account or to review design of complex international structures, this bank has resources to meet your immediate wealth management needs and set stage for your future financial goals. Within Private Banking, you will find everything you need to manage your financial and legal affairs. There is a range of services for High Net worth individual or company; including personal investment planning, trust services, or tax structuring. Whether you require access to credit, discretionary investment management, or estate-planning expertise, Private Banking can provide assistance you need to meet your goals, not only today but well into future.
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