Seven Investment Terms Everyone Should KnowWritten by Tim Gorman
For those who have never given their financial future a second thought, term "Financial Planning" could be a scary one. Investments can be a smart way to invest money for your future, but it can be confusing for those who have no experience in financial business. Before you consult a financial planner it is wise to become familiar with some of terminology that you are likely to hear from him or her.
* Mutual Fund-An investment made with money that is collected by individuals with an investment goal in mind. The mutual fund is handled primarily buy a person known as fund manager. Mutual funds are easy and cost efficient, since you are not responsible for making decision as to where to invest money.
* Asset Allocation Fund-A mutual fund that incorporates several types of investments such as stocks, bonds, real estate, and foreign stocks. These are typically for small investors who want to invest in a variety of funds in order to maintain a constant return.
* Risk-Return Trade-Off-This is amount of money that you can stand to lose versus amount of money you are willing to invest. Investments that are low-risk often have low payoffs, while investments that are high risk usually have higher payoffs. When investing money you must determine amount of money you can lose before determining how much money you will invest and where you will invest it.
Errors on Your Credit Report: What You Should DoWritten by Tim Gorman
There are times when you may be turned down for credit and you do not understand why. According to Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. You may also receive a copy of your credit report for a small fee at any time in which you want to review information contain therein.
If you dispute any of information on your credit report, there are steps that you, credit reporting agency and information provider must take to have information corrected or deleted form your report. 1. You should contact credit reporting agency and request that inaccurate information be taken off. To do this you will need to send a letter of request and enclose a copy of report with incorrect information highlighted. Send your request certified mail and indicate that a return receipt is requested. 2. The Credit reporting agency will forward request to information provider at which time they will review and investigate request. If information cannot be verified, then they must remove it. They can either correct or deny request to change information. They will then send their findings to credit reporting agency.