It’s time for a vocabulary headache. Today’s guest stars are “accumulative” and “cumulative”. We’ll get to what those words mean in the context of investment return in just a moment.
Before we can do that, though, we have to sort out precisely what those words mean and how they differ from each other. There is a very fine line between them in the way that they differ, so pay close attention.
Accumulative: Accumulative is an adjective that applies to something gradually growing or increasing over time. Synonyms for accumulative may include snowballing, amassing, intensifying, etc.
Cumulative: Cumulative is an adjective that applies to something that is increasing due to a combination of independent reasons. Synonyms for cumulative may include chaining, piled, grouped, etc.
Notice: The main difference in the two words are the fact that cumulative encompasses one increase after another, while accumulative refers to one growth as a whole. For example, one might refer to “their cumulative GPA,” which one collects after adding together all the increases or decreases of their separate grades in each class.
On the flip side, someone might talk about “the accumulative damage of rainfall,” which would refer to the gradually increasing damage caused by rainfall over time, with no other factors and no additions to be considered.
In the Context of Investment
Now, we can discuss what you all came here to learn: What the difference between accumulative and cumulative investment return is.
The first thing to understand is that there is no such thing as an accumulative investment return. Save yourself the trouble searching for advice on accumulative investment returns by not doing so at all. Nothing will come up in your search.
In the context of investment, cumulative investment return is what’s usually talked about. As you might guess by the definition that we discussed above, you find the cumulative return by factoring in all the different gains and losses made over time to show the current total investment return.
The data can then be analyzed to decide whether or not it’s a smart idea to continue your investment – alternatively, an analysis can help you determine how much more – or less – money you want to put into the investment if you choose to continue.
Cumulative investment returns can be roughly calculated by subtracting the original investment amount from the current value of the stock and then dividing that number by the initial investment amount again. Lastly, subtract one from that number. After converting the final result to a percent, you have your cumulative return for any given any.
While an “accumulative” return isn’t correct terminology, a term usually mentioned in comparison to cumulative returns is the “annualized return,” which looks at the investment return in any given year rather than any point in time like cumulative returns can do.
Annualized returns must be compared side by side while cumulative interest maps out the gain for all time. Comparing the two against each other provides valuable information on the patterns of how poorly or how well your investments are holding up.
In summary, knowing the difference between accumulative and cumulative can be important when working in an economic context, and your cumulative investment return is a valuable tool in monitoring the ups and downs of your investments.
When you are thinking about investing somewhere, you should look through some other articles as well that I wrote about: Investors Hub Review
It is a challenging and stressful time losing a parent who has lived a long life. So many arrangements have to be made and so many things have to be taken care of. One of those things is the estate that was left behind.
After a will has been probated the executor begins the process of distributing the assets to the beneficiaries. This can be straight forward or wrought with disagreement and dispute. In the case of the latter, you need to be on the lookout for fraud, dishonesty and questionable behavior.
These matters can be complex and here are 4 situations to consider.
What was the relationship between the testator (the person who made the will) and the beneficiary or any others who may benefit?
Some examples of fraud can be pretty obvious. If your Father or Mother had a properly executed will in place for years, were still living in their house and being cared for by a neighbor or friend. And that person suddenly is the primary beneficiary in a new will, that you didn’t know about this should obviously be questioned.
Undue influence is a species of fraud that occurs where a person makes a testator execute an instrument they would not have otherwise executed. If the new will leaves nothing to the children who were beneficiaries in a previous will then the new will can be challenged and nullified.
To contest a will, you must retain a probate or estate litigation lawyer who can file a lawsuit on your behalf.
What was the physical and mental condition of the testator before death?
Unfortunately, when our parents get on in age and into their 80s and 90s some conditions can affect their minds. A once healthy, brilliant and sharp mind can change and parents can begin to struggle with short and long-term memory.
If a will was changed or a new one was executed when one of your parents was suffering mentally, that will can be contested. In these instances, your lawyer would look for proof that your Father or Mother was suffering from a cognitive illness.
Medical records or testimony from the specialist doctor, who treated them before the will was changed, is the strongest evidence to secure in order to have a will thrown out.
Be aware of the conduct, character and actions of the person that benefited the most in the will or trust.
In this day and age, it is not uncommon for families to include step-brothers, half-sisters and others. In most cases expanding familial relations leads to a happier and more fulfilling family experience for everyone.
In some cases, it presents challenges especially with large estates that include ranch property, houses, vacation homes and large financial investments. If a will or trust was changed late in a testator’s life and new beneficiaries were introduced, it should be questioned.
It is important to know if the main beneficiary has any history of fraud, deceitful or untrustworthy behavior. As surprising as it may seem there have been cases where a testator, in their late 80s or early 90s was driven to a law office where a prearranged meeting was organized for the sole purpose of changing a will.
An experienced estate litigation attorney will listen to your concerns and uncover the facts behind another person’s behavior and actions.
Was the will executed properly?
A will or change to a will, known as a codicil, must be executed properly. In Texas, there are strict rules that must be adhered to. Unless the will is written entirely in the testator’s handwriting, a holographic will, there must be two witnesses present when the testator signed the will.
The two witnesses must be over 14 years of age and must sign the will in the presence of the testator. The signature of the testator must be valid and not the product of forgery or fraud. The dates, page numbers, signatures and formatting on a will should be correct. If the document looks suspicious or odd in any way it may be the product of undue influence.
An experienced estate and probate litigator can represent you in these matters to ensure that the wishes of your parents are achieved. Don’t let yourself be bullied or taken advantage of, most lawyers offer free phone consultations so take the first step and make the call.
There’s been a recent wave of corporations filing for Chapter 11 bankruptcy, with big names like General Motors, United Airlines, and K-mart choosing to go this route. Despite the fact that Chapter 11 was originally envisioned to serve just those types of major players, it can prove very advantageous to small and medium-sized businesses as well as individuals with large assets. In fact, small, family-sized firms make up the vast majority of Chapter 11 filings every year.
What Is Chapter 11?
Also known as a reorganization bankruptcy, Chapter 11 allows debtors to restructure their business in order to better fulfill obligations to creditors under court supervision. During the proceedings, they obtain the legal quality of debtors-in-possession, and in most circumstances retain full control over their business operations.
This is arguably the most attractive part of Chapter 11 from the perspective of the debtor, as the feeling of constantly having to answer to someone for every decision can be extremely unpleasant for any business owner, not to mention that outside interference can even hinder the firm’s ability to turn a profit.
There are instances in which a debtor’s authority over the firm can be stripped away if fraud, dishonesty or gross incompetence are found by the court. In such cases, a trustee is appointed to run the business until out of debt. It is highly advisable to hire a good lawyer to ensure this doesn’t happen.
How Do You Go About Filing For Chapter 11?
Filing for Chapter 11 is usually done at the initiative of the debtor, who has to first submit a petition of relief to the court, as well as schedules of his assets and liabilities, creditor information, statements of financial affairs and any other documents relevant to the proceedings.
Once these are filed, he can formulate a plan for reorganization that can involve anything from downsizing, cutting expenses and reducing personnel, down to liquidating company assets. This is to be sent to the creditor for approval, together with any relevant disclosure statements.Most negotiations take place at this stage, as both the debtor and creditor are looking for ways in which the restructuring might better serve their own interests.
Finally, the two parties reconvene for a confirmation hearing, where the court analyzes any objections to the plan, and decides on whether or not to give course.
Something To Keep In Mind
Although Chapter 11 is intended to provide a business with a sort of “new lease on life”, courts usually consider that the restructuring program should favor the creditor, at least for the short term, as getting out of debt a little earlier is nothing a small business owner would frown upon.
What Can The Creditor Do While Chapter 11 Is Active?
Chapter 11 can also be filed by the creditor, in which case the debtor is the one who would have to agree with the proposed reorganization, in the limits set by the court. You can make out for your own that this might not usually be the ideal position for the business owner or representative.
While normally unable to intervene in the company’s decisions, the creditor can use the court to conduct examinations, which include obtaining documents and interviewing the debtor or third parties under oath, as well as soliciting proofs of claim.
The creditor can also object to the claim of relief itself, asking the court to dismiss the filing entirely, and as we’ve mentioned previously, to the restructuring plan.
Chapter 11 is considered to be neither very speedy nor very cheap. However, as opposed to the other options usually available to business owners by the stage filing for 11 becomes necessary, it offers some invaluable perks: a clear way out of debt, control over their own business, and most importantly, an opportunity to keep alive the company they’ve invested time and effort in.
About the author:
Kevin S. Neiman is a Denver-based attorney with over 20 years of experience in pursuing finance-related lawsuits, often of a very complex nature. The Law Offices of Kevin S. Neiman have a wide area of expertise, including but not limited to Chapter 11 and Chapter 7 bankruptcy, commercial litigations in state and federal courts, and appeals to bankruptcy matters throughout the United States.
It’s been a tough month … your child got sick, spent the weekend in hospital, and was released Monday morning on a “special diet”. Since you had to miss work on Monday, your employer didn’t accept your excuse and will be docking your pay this week. I’m not going to mention the child support money is late… again!
As much as you wish you didn’t have to, you will look for a quick finance company, and leave your mother out of this one. You’ve been warned about them, but life happens! Snap Finance is one you’ve heard about a lot – maybe give them a try.
What Is Snap Finance?
Snap Finance Company is a finance broker that offers service to businesses and individuals. They serve businesses by offering a finance facility for the business’ customers that require payment terms to complete an in-house purchase. They also serve individuals by offering loans to those unable to get traditional credit. It describes itself as a “digital-finance company that specializes in providing consumer financing and rent-to-own purchase options”.
Here are some general features of finance companies. They are not full-service banking; they are strictly consumer loans. The loans they carry may not be available everywhere; low credit scores are easily entertained. They are not the cheapest loans, but often are better priced than payday loans.
Here’s where this type of facility gets tricky. They concentrate heavily on collections. Whereas a bank may give you leniency for the three months you are late, finance companies are keen to follow up on a single payment missed. Taking possession of the collateral good can happen quickly!
On the other hand, CSRs at finance companies tend to be more personable than bank officers. So yes, when you have a temporary setback, you can make that call, and your voice will be heard, as long as you do what you say you will. They often have special concessions to get you back to meeting your commitments honestly.
Snap Finance Company is actually the middle-man for your loan – they don’t lend their funds, but find finance companies that are willing to do so. From your point of view that fact matters little, since once you get the loan, where and how you pay will be decided. The website of Snap makes all the details simple – at least not your worry.
Why You’ll Love Them
Simply put, if you’re in a financial jam of sorts, these high-risk loans are a good option, if you know how to manage it well. With Snap Finance, the first 100 days are interest-free; I’d say, do your best to meet this timeline. But if you’re going to be just a little late, an extension may be considered. Just call.
The customer service at Snap Finance is often described as “helpful” and “informative”. So many customers report that when their financial situation became more difficult, Snap Finance CSRs made it a little easier.
The website facilitates the easy application process of Snap Finance. Honestly, you already know from the home page that the interest is at least 11.8%. So if you have other cheaper options, explore those first.
Direct debit to pay the loan is a convenience offered by the lender. As long as you agree to a date that you can commit to, you will re-build your credit along with this convenience.
Why You’ll Not
Most people who simply can’t adjust their lifestyle to improve their finances will always blame another entity. Late payments, not reading the contract thoroughly, and non-communication are common factors in clients’ frustration. After the contract is signed, your best bet is to abide by the terms, and only worry about what you can control.
That said, consumer financing can be addictive. Borrow only what you need to get by. If a purchase can wait, try to save before expending just to look good and pay more than is necessary.
Sometimes, in the haste to get funding, consumers don’t focus on all the charges that could happen during the life of the loan. Paying as agreed, these extra charges will be little to nil. You can expect to pay a charge for being late with your monthly payments, but there are a lot of complaints from former customers that these are exorbitant.
Remember, finance charges could be as high as 32%. And with additional charges that may not be apparent at the outset, this could drive the total cost of borrowing up to 100%. You should always make all calculations to know the full cost of the funds before signing any loan.
What I first described as a positive feature, could also be your detriment, if you don’t manage effectively. Should you have the funds in your account on time, direct debit is a wonderful convenience; otherwise, it’s a strike against your credit, among other things.
Finally, collection calls you choose not to answer may end up at your friend’s, your parents’, or your employer’s. All this can be avoided, as already alluded to in this article.
All in all, as with everything in life, there are pros and cons to whatever you choose. A short-term loan may be a good choice if you’re willing to be a model borrower.
Of all the finance companies and pawn shops and payday loan facilities you may be able to access, Snap Finance is a good one among many. They may actually help you in your weak moments.
You get up in the morning and the house is cold. Not just cold, it’s freezing! You panic because you know there’s not enough money in the checking account to pay for a new furnace. Now what? The credit cards are maxed out, the savings account is running on empty, and you really don’t want to spend the kid’s college money on this problem. You call your local HVAC contractor and find out you can finance your new furnace with FTL Finance, the furnace financiers.
Problem Solved – Right?
You know you have good credit and the financing issue shouldn’t be a problem. That’s going to make everything go a lot smoother. The contractor shows up with a brand new furnace and an application you need to fill out to get approval for the FTL Finance company to pay for your purchase and then set you up on a payment program. Sounds easy, fast, and simple so you go for it, crossing all the T’s and dotting all the I’s.
You fill out the forms, fax them in to the company and voila’, you’re the proud new owner of the most efficient, cost-effective furnace available to modern man. Life is good, the house is warm, and everyone in the family thinks you’re the greatest. It’s a great feeling and you bask in the sunshine of your success.
Life is Back to Normal with FTL Finance
Time goes by and you make your payments on your brand new furnace. Every month, you send in your check or you make your payment online and you’re content. The furnace saves money on electricity and runs as quiet as a mouse. You’re pleased with yourself because the money you’re saving is helping to make the payment on the furnace. Things just seem to get better and better.
A few years go by and you’re getting ready to make the final payment on that excellent furnace you bought a while ago. You make the final payment on the FTL Finance contract and you’re happy as a clam and snug as a bug in a rug. You’re so happy because now that the furnace is paid off, those electricity bills and natural gas bills are going to keep staying low, saving more money on the monthly budget. Ahhhhh, life is good!
The Bad with FTL Finance
One day, several months later, you take a quick look at your credit report and notice there’s a delinquent payment notice on the report from FTL Finance. You scratch your head and wonder to yourself, “I paid them off. What’s this about?”. You decide to dig up your paperwork to confirm you paid them off and decide to give FTL Finance a call to clear up the misunderstanding. You dial the company’s customer service line and get an agent who informs you that your payoff was for the wrong amount and you owed an additional $99 “contract administration fee”. You state you were never informed of a contract administration fee and you would have paid it if you’d known.
The agent informs you that the fee was due at the contract initiation and that at this time, you owe a few thousand dollars since the debt has accumulated $0.25 interest every day it hasn’t been paid. You inform the agent you’re not going to pay thousands of dollars and they do a phone dance between you and their manager. They finally arrive at a settlement amount of $500 which must be paid immediately or the company will come and repossess your furnace.
Incensed, you tell the agent you’ll have to think everything over and you’ll call them back. As your face returns from crimson back to normal, you start to read the contract you signed. It doesn’t mention a $99 administration fee. The payment book you received didn’t have a $99 coupon to send in and no one ever said you were behind in your payments.
You ponder the situation for a few days and the phone rings. It’s a collection agent from FTL Finance and they want to know when you are going to pay the money you owe. You inform the agent you’re still deciding what to do and the agent tells you the debt must be paid quickly or more credit score reporting will be done.
Hanging up the phone, you shake your head and scratch your scalp. You wonder how the heck you went from happy homeowner to distressed debtor in a matter of seconds. You also wonder how this company can arbitrarily charge you additional fees and interest without you knowing about it. You’re starting to feel a little … stupid.
The Ugly on Steroids
After a few more days, the phone rings again. Once again it’s the friendly folks from FTC Finance looking for their money. You inform them you’re not going to pay them for money you don’t think you owe them and hang up the phone. Unfortunately, it doesn’t end there. You walk out to the mailbox and there’s a letter from FTC Finance, telling you once more of your incredible debt and how you really need to get it paid or there will be consequences.
Desperate, you go online to check FTL Finance out and discover a Better Business Bureau (BBB) website that has a review of the company. You click on the link and find the BBB website states the company isn’t a member of the BBB. Then you discover there have been some complaints filed against FTL Finance by former customers. You start to read the complaints and discover you’re not the only one who has gone through what you’re going through.
Back to Normal Again
What you find in all the complaints is a clear pattern of a company that doesn’t play fair. You see other customers with the exact same problem you’re dealing with and you also see how they solved their problems. You decide you’re going to take a tough-guy approach and go after FTL Finance with a vengeance because you’ve been wronged. After sending out letters to the company, the credit bureaus, the BBB, and your brother-in-law (who happens to be a lawyer), you finally arrive at a satisfactory conclusion to the mess and you can relax and enjoy another warm winter … as long as the furnace holds out.
The Lessons are Clear
Lesson #1 – Read the contract completely before signing. It can save a lot of time, anxiety, and money.
Lesson #2 – Check out your creditor before you borrow any money. It pays to do some homework.
Lesson #3 – Shop around for credit. Taking the first offer may not be the best idea.
Life runs at high speed in today’s world, but that doesn’t mean you have do everything in a hurry. Making a purchase using credit can be done with great ease in today’s world, but that doesn’t mean it should be done at the drop of a hat. FTL Finance is a finance company in business to make money and they do all kinds of things to accomplish that goal. You need to be a savvy consumer who avoids doing business with companies which have questionable practices like FTC Finance.
What is Xtensio? What is it for? Why would I need it? If you’ve ever asked any of these questions to yourself, then you’ve come to the right place. Today I will be discussing everything Xtensio – what it is, why it’s useful and how to get the most out of it.
Xtensio – What Is It?
Confused? I sure was when I first came across the online communications business. The problem with gathering information and understanding the service is that it offers so many different features – it can be easy to get a little bit overwhelmed!
However, what I now know about Xtensio is this: It is an online service that helps individuals in your business or organisation connect, communicate, and work together.
Basically, it’s just a content creating software for entrepreneurs and businesses that can aid communication between members of the business.
The service was launched in 2015 and is the brain child of Fake Crow, a product design studio that creates solutions for ‘forward-thinking’ companies. Xtensio is primarily focused at small, emerging businesses that want to visualize their growth and size, and promote themselves.
What Services And Utilities Does it Offer?
You could see Xtensio as a cross between a website builder, a messaging platform and Microsoft Office. It combines the many functions of all these products into one, unified service, so you have everything in one place, ready to use.
Utility No.1 – Presentation Software
One of the main features of Xtensio is its customizable presentation content creator/editor. What makes Xtensio’s presentation software different to others, you may ask? Well, There are three main features that differentiate it from the likes of Microsoft PowerPoint –
Modules – These are Xtensio’ containers of content which contain things such as graphs, text and growth predictions. All modules are easily edited, transformed and moved around the slide
Templates – With Xtensio’s custom templates, you can easily get the creative juices flowing and have a presentation that looks amazing with very little effort.
Style Guide – While working, you can use a style guide to pick colors and fonts, so you can maintain a similar visual style throughout.
Other features also make Xtensio stand out, including easy integration between presentation, PDF, and web page, and also the ability to communicate with members of your team while working – I will discuss these features next.
Utility No. 2 – Website Builder/Integration Between Formats
While working on your presentations, you can easily switch the whole presentation to a website, or vice versa. After converting to a different format the user interface stays the same.
This means that switching of formats is very simple and doesn’t require learning many different interfaces, like you might have to do with something like Microsoft Office.
This easy integration between the two utilities makes website design easy and accessible for anyone in your team. You can also convert your presentation or website to PDF format whenever and wherever you like – it’s available and functions on all devices, no matter the screen size!
Utility No. 3 – Communication
Xtensio’s software means that multiple people can work in the same area, or on the same thing at he same time. You work space is always private and secure, and you can add colleagues or investors to collaborate on your presentation or website at the same time.
With Xtensio you are able to see who’s working on what, so you can increase productivity and work flow. Another bonus is that all work saves and syncs for everybody working. You can even undo other’s work if they have made a mistake.
Why Would You Need Xtensio?
Henry Ford once said “Coming together is a beginning; keeping together is progress; working together is success.”
I think that that quote sums up exactly why Xtensio is so useful because it helps potentially isolated colleagues or employees function as a team with their colleagues. On top of this, with Xtensio you could solve a number of problems that might occur in businesses that work predominantly online. These include:
Not being able to work together, if employees or colleagues are working remotely – The communication side to Xtensio solves this easily!
Not being able to hire a website designer – with Xtensio, web designing is very accessible to everyone due to the easy to use converting tool.
And finally, not having enough time to create stunning presentations that can promote your business – Xtensio’s templates make designing great looking presentations easy!
Other than solving these highlighted problems, Xtensio is also very desirable because of its affordable price point – from just $15 dollars per month per person. You can even get started with Xtensio with a free plan, however this plan is quite limited.
What Are The Bad Things About Xtensio?
Enough with all the positives. Unfortunately, there are some cons about the service. From customer service to ease of use, some people have complained about some of Xtensio’s many features. Some of the things that need improvement are –
Choosing a color – the color picking requires you to paste a hex code into the software, which is awkward and time consuming.
Poor customer service – According to one user, Xtensio staff argued with him, trying to persuade him to upgrade to a more expensive plan
Poor value for money – for some users, the lack of freedom with the cheaper plans is frustrating, and some cannot afford the more expensive options.
Despite these cons, Xtensio has very few bad reviews and overall, the positives drastically outweigh the negatives!
Who Is Xtensio Aimed At?
Almost anyone that wants to increase their productivity and is running or starting a business would find Xtensio immensely useful. Xtensio supports freelancers, agencies and even consultancies.
However, the service is aimed more at smaller businesses. This is because most of their offered features are more useful to smaller businesses that want to grow in size, and this is reflected in the paid plans that you can choose from the company.
How Can You Get the Most Out Of Xtensio?
In order to get the most out of this service, you should exploit the most useful features to the best of your ability. For example, you should always use Xtensio’s built in templates to save time and ensure you have an amazing final presentation or website.
In addition, make sure you use the communicative features to the utmost – if you divide work on Xtensio between your team equally you will increase productivity dramatically.
Finally, if you apply this rule (exploit the most useful features) to all aspects of Xtensio, then you will be sure to get the most out of the service, and get your money’s worth with it!
Overall, Xtensio is a great business for many types of people. If you want to boost your marketing or productivity as a business, then Xtensio is the perfect choice when it comes to website building and content creating. Even if you’re just an individual trying to start-up a business then the services provided will still be of great use.
More than anything else, I hope you’ve learnt something about Xtensio, and learnt whether or not the company will be useful to you! Thanks for visiting this website, and I hope to see you again soon!
If You are interested, what Xtensio could offer You, just check it Yourself from here!
Making money from your sofa sounds like a dream come true, doesn’t it? Or something that people talk about, but few people actually manage to do. But, in the modern world, where the internet plays a huge part in our day to day lives and has opened up a world of online business and new ways to make money, it’s entirely possible to make money sitting on your sofa, wearing your PJs with Netflix on in the background.
Of course, it’s not always that simple. Like most things in life, the more effort you put in, the more money you will make. Which can mean that if you want to make serious money, enough to give up your job and become a full-time home worker, you might want to get dressed and take things a little more seriously.
But, if you just wanted to make a little extra pocket money, you could do it while chilling out after a long day at work, without too much effort at all. Let’s take a look at some of the ways that you can make money, whether a little or a lot, from the comfort of your sofa.
Sell Your Crafts
If you already make things, have you ever considered selling them? Many of us have creative or crafty hobbies. Crafting can help us to destress and unwind. Those of us with creative hobbies are often more productive and find it easier to think creatively at work.
But, selling your crafts can also be a great way to make money. While you might have to leave your sofa to buy supplies and organize delivery, you can create your work on the couch, just like you might already be doing.
Many people start out just making a little money from their existing projects, selling on social media, or online sales sites. But, if this goes well, people often create a brand, read an introduction to brand protection, and even launch their own websites. Some of these brands become exceptionally successful.
Try Your Hand at Writing
If you enjoy writing, and you are reasonably good at it, you could use your skills to make money as a freelancer. There is plenty of freelance work available for writers.
Some of the jobs include content writing, CV writing, product descriptions, copywriting and editing, or proofreading. Working as a freelancer means that you can work when it suits you, earning anything from a little to a lot.
Start a Blog
Another great project to start at home is a blog. There are bloggers and influencers out there, making a substantial income. But, don’t think that it’s easy and that you’ll get free stuff all of the time. Successful bloggers work very hard and commit a lot of hours to their blogs.
Take Surveys and Test Websites
If you just want to make a little extra pocket money easily, then taking surveys, helping with market researching, and testing websites are all great ways to do it. Sign up for multiple survey sites, and you could make a little money every day.
Surely you have seen youngsters these days exploding as entrepreneurs these days. Among them is a young man named Ricky Guiterrez. Ricky is a 24 year old day trader from Arizona. You may have seen him featured on a YouTube video making $11,000 in just 24 hours. Safe to say the young man has done quite well for himself.
Ricky has become a YouTube sensation through teaching other traders his strategies either on his YouTube channel or his “Learn Plan Profit” course. Ricky took his talents of trading penny stocks and bought his first house at the age of 20 and claims to make north of six million dollars a year. Along with day trading Ricky also invests in real estate, car flipping, and has a series of online businesses.
Why Should You Care?
In today’s society, anyone with internet and some ambition can get an online business off the ground. Having all of these business resources easily accessible can also lead to lazy entrepreneurs cutting corners and misleading people.
If you are looking to jump into any business venture the quickest way to excel is finding a mentor and tweaking it in your own way. There are hundreds of thousand day traders that have paid money in order to make Ricky their day trading mentor.
The question however is, are these people in good hands? Or just victim to a clever boondoggle?
So What’s The Deal?
Ricky is educating inspiring day traders through his program called LPP or “Learn Plan Profit”. For a price of $299 you can enroll in this course and be well on your way to learning how to trade like Ricky…or will you?
According to fellow day trader Patrick Wieland, Ricky Guiterrez is nothing more than a fraud. Now Wieland has admitted that Ricky offered to buy his ex-girlfriend a plane ticket to Arizona for “a good time” so his opinion may be a little biased.
However, the reason you are learning about Wieland today is because he actually makes a valid point. He simply asks that if Ricky is as profitable as he say he is, then how come he has never shown a audited broker statement? Ricky’s alleged response to this claim was that he wants to keep his finances private.
This is typically a reasonable answer but there is only one problem. Almost all of Ricky’s trading videos consist of him telling you how much money he made anyway. So what would be the issue of showing the broker statement.
How Should You Know Who To Believe?
Now there is the million dollar question. If you are looking to jump start you career as a trader should you risk taking a chance on Ricky’s trading program. Although Patrick Wieland has a valid question that deserves an answer, he never actually joined Ricky’s trading program.
Along with his clear bias against Ricky Guiterrez, him not actually enrolling in the program makes his testimony just a tad fickle. Another trader who had a year of experience before joining LPP also had some input of his own. He goes by “Stock Talk” on his respective YouTube channel.
Mr. Stock Talk claims that he left solely because there were too many obnoxious traders in the group chat. After becoming tired of this group chat, he moved to one of Ricky’s more private chat group. Mr. Stock Talk then realized that the this chat room also began to get infested with complainers and bad energy.
Mr. Stock Talk also explained that Ricky Guiterrez was only available for about 45 minutes to an hour everyday. If you are paying $300 to learn a skill you would probably want a little more attention. Due to the large amount of students Ricky has no possible way of helping each and every person out.
Mr. Stock Talk claims that approximately 90 percent of the information that Ricky gives to the chat members is also available on his YouTube channel. This means as long as you have internet connection you could do your own due diligence and learn the trading strategies yourself. Mr. Stock Talk says that if you are a beginner trader than it may be a worthwhile investment.
Honestly, Ricky has already made a huge amount of money from his courses. This is probably why he does not care that you see his material for free on YouTube. He may have realized the direction of his chat and chose to put information on YouTube to collect revenue streams.
However, despite all of the criticism Mr. Stock talk does go on to say that he has learned a lot of valuable information from Ricky. Mr. Stock Talk says that he learned trading discipline. He talks about how he learned be patient enough for a stock to just begin its rise before buying.
Where Should You Go To Learn Trading?
Quite simple. Go to his YouTube channel. It would be much wiser to just subscribe to his YouTube channel rather than spending $300 on a program. Sure you are in a chat with like minded people but that is what YouTube’s comment section is for. You can network on there just like a chat room, especially on live streams.
Ricky has over 600k subscribers so the guy must be doing or saying something right. You can learn his trade strategies for free and use that $300 to test the waters yourself. Remember no matter who you decide to follow or allow to mentor you, there is no teacher like experience.
Even though Rick may have a level of transparency to his trades, he probably is not going to show you what makes him maximum profits. That just would not be the
actions of an astute businessman. You can still learn strategies and concepts that can make you money. If you are looking to master a craft or skill then you should be reading up on everything and listening to everything possible.
Take notes from what makes sense to you and throw out what doesn’t. Not to say stay in your comfort zone but you these trade gurus are just guides not absolute messiahs.
Trade has been the way of the world since eons, but it is not less than a roller coaster ride for a debutant. Faltering, doubting, and making mistakes during the journey is part and parcel of every modern business.
When you are starting a business, knowledge alone is not enough to take you through the thick and thins. You need passion and hope in equal doses, as well. You have to make the right choices with the confidence that you will make it through.
Once your business is up and running, and you have gotten out of those turbulent waters, what should be your next step? The initial period of a new business is integral to decision making as regards future investments. You should carefully monitor your business’s growth to decide when and where to invest in bringing stability and prosperity to your company.
Investing in your new business is as much as a challenge as it is a learning opportunity. You have to be prudent when it comes to investing in your new business. You need the money and effort you are putting in to pay dividends, bringing in profits and expansion opportunities.
Setting up an emergency fund may not seem like an investment, but putting aside a specific amount in such a fund monthly, or quarterly will prevent your business from suffering significant damages in case of an emergency. Having an emergency fund is separate from investment and savings accounts.
Therefore, if you encounter an unanticipated issue, it can be sorted out quickly by using money from the emergency fund. An example of the need for emergency funds can be the replacement of expensive malfunctioning equipment or urgent product demand in the market.
It can never grow old and can never be useless. There is always room for improvement, even if you are the founder of a business. When you are running a business, you have to don the hat for multiple roles. You may excel in some but may find yourself at sea when it comes to numerous other business issues.
In many organizations, business founders often find people management a difficult task. When you are running a business, you cannot do it all on your own. You need a team, and you need to know how to manage them.
Therefore, investing in learning how to do that will be instrumental in the growth of your business. Hire a coach or enroll in a course that can help you manage your regular tasks.
It often happens that the business line of credit for new businesses does not allow the business owner to get the right tools to grow the business. Initially, to focus is to get the company started. Once you have started and it has become apparent that your service and product is reaching the target customers, then it is time to invest in the right tools and equipment.
The right tools can get the desired product to the customer in a shorter period. In some cases, the product/service price also drops as a result of the company acquiring new equipment.
Unless you have a tiny business and you are quite good at numbers, do not operate your business without an accountant. In some cases, you may feel like you cannot afford the services of a full-time accountant.
You can outsource accountancy services in that scenario too. However, it will be best in the best of interest to invest in accountancy services as soon as you can.
A company or a business is nothing without the people running it (the employees) and the people supporting it (the customers). As a new business, you must have people investment at the top of your agenda.
You need to have an efficient and reliable team that can keep your business up and running and make it grow. When you have a task force, you need to invest in their learning. Market dynamics change continuously; therefore, they need to be abreast of all the changes.
The employees should be entitled to attend courses, seminars, and coaching sessions. Moreover, your business should engage customers in creative activities and develop better relations to retain and grow the clientele. It calls for campaigns and offers like giveaways and sales etc.
Even though conventional marketing is still in the game, but if you are a new business, it is better to start from online marketing. You need to invest both your time and money in coming up with a compelling online marketing campaign.
Today’s world market is online; therefore, an online presence is essential. Organic growth may be a fad, but there is nothing unethical about paid campaigns.
Therefore, if you can invest in online marketing campaigns, make it your priority. However, ensure that it is a compelling marketing campaign.
You need to have an online presence as a business, and for that, your business must have a website. Do not take your web presence as just a formality. Create a compelling narrative that will make people visit and stay on your website.
It will make your webpage appear in the top web searches. In addition to investing in developing a good website with great content, consider investing in SEO optimization. It will result in your webpage, and resultantly your business having an online presence.
Your workspace should be a place that has all the essentials required to run the business effectively. Additionally, it must also be a welcoming place both for you and your workforce.
A workspace must be comfortable, clean, and organized. Try not cluttering the workspace with a lot of unnecessary stuff. Only invest in materials that are required and resources that keep the place welcoming.
To grow a business, investing money or capital is not the only factor. You have to spend your passion, as well. Pausing and learning along the way is also an investment in your business. While financial capital is essential, it alone is not enough for any company to make it big.
When you’re browsing for side-income or new business ideas, a short-term rental business might not be the first thing that pops into your head if you don’t own a house. Wouldn’t that be like becoming an Uber driver without having a car to drive people around in?
Well, not exactly. The days of needing to own a house to start and scale an Airbnb business are long gone. There are two business models to use to start making money on Airbnb:
Managing other people’s properties.
The first one requires a little bit of investment (renting a property). If you’re starting with no money at all, you’ll want to choose the second one. But both have their pros and cons.
What is rental arbitrage
Rental arbitrage is the process of taking out a long-term lease (renting a property from a landlord) and then taking that property and listing it on short-term rental websites like Airbnb and VRBO. There are a few caveats to this approach:
You need enough to rent out the property (security deposit, first month + last month, any maintenance or repairs that need to be done, that extra layer of paint)
The landlord needs to be on board with your business idea
Rental arbitrage must be legal in the jurisdiction.
So it requires an initial investment, even if only a fraction of the cost of buying a house. If you have some savings, this can be a great choice, given it’s the more profitable of the two business models.
The Airbnb Help Center provides all the information you’ll need about the legality of rental arbitrage in your area. If it’s not directly on there, they’ll usually link you to the relevant city hall website. Check beforehand before you sign a rental agreement.
The rental arbitrage model has high profit potential: you could be renting an apartment or house for $2000/month and renting it out on Airbnb for $150/night. In less than half the month, you’ve paid off the price of rent and the rest is profit. If you get enough savings, you can scale this to more properties and the opportunities are endless.
But this model doesn’t work for everyone, because you might not have any savings or money to invest in a rental. That’s where the property management model comes in.
Property Management Model
This model is the quickest to scale and the cheapest to start. As an Airbnb property manager, you only need to invest in one thing – your knowledge about managing properties. In terms of other costs (rent, maintenance, etc.), you don’t need anything.
You just need to market yourself to people who own properties and who want to rent them out on Airbnb but don’t know the first thing about it or don’t have the time to do it themselves.
As an Airbnb property manager, you can onboard a new client in under two days if you want to. And two days later, you can take on a second one! That’s how scalable this model is. However, where in rental arbitrage you’re taking home 1.5x-3x the amount of the rent you were paying (for one $2,000 monthly apartment, you could take home $2000 in profit), the property management model has a much smaller profit margin.
That’s because you’re sharing the cut with the owner. While the amount you take is wholly up to you and the landlord, typical sharing schemes are from 20/80 (you taking the 20%) to 50/50.
But it’s easy for you to scale and take on more properties quickly.
All you need is to find landlords. Design a business and marketing plan and decide how you’re going to reach out to these people and market your services.
The choice depends on your current situation. You can start an Airbnb business today whether you have savings or not. Which model you choose depends on how much money you already have and how fast you’re trying to scale the business.
The only thing you need is to learn about the vacation rental industry.