Wealth

Galveston Wealth Has a History of success

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The brokers at Galveston Wealth like to say that you are only as good as your last trade. But they also know that no single trade will make or break a client’s account.

There’s no guarantee of successful stock selection in the markets at home or abroad. Brokers who claim they only pick winners are disingenuous at best.

Research and study of market trends over the last half century have repeatedly shown that it is extremely rare for brokers to accurately predict with regularity the future performance of any given stock or fund.

But investors need not despair. There is a solid strategy that’s been proven over and over to build wealth.

Galveston Wealth has been in business since 2007. Over the last decade, despite market fluctuations and global uncertainty, Galveston brokers have demonstrated capacity to build wealth over the long term.

Every winning strategy is based on a diverse portfolio that employs a range of tools. Diversified portfolios that balance risk with caution and maximize returns over the long term are based on a winning formula that for the last 10 years has been driven by a global economic recovery.

But even a slowing recovery doesn’t dampen the prospects for investors willing to plan for the long term. Galveston has developed a suite of mitigation protocols to reduce outflows when growth slows.

As a result, client expenses contract and assets stabilize during downturns so Galveston’s customers can weather the storm. It also means that investors won’t need to sell when the market bottoms out.

With commodity prices in a tailspin and China’s overheated economy finally cooling down, investors must brace themselves for changes. That’s why it’s imperative that investors incorporate expense reduction strategies into their investment plans.

Galveston isn’t just focused on growth. It’s also focused on shoring up what assets its customers already maintain.

Just as Galveston’s clients entrust their assets with its brokers, the company is invested in its clients. It’s a mutually beneficial arrangement that only works for both parties when they stay invested in the market for the long term.

 


Ready for Anything: Protect your Wealth

Your money is valuable. You put it to work for yourself by making smart investments, planning for your retirement, and always saving up for a rainy day. When thinking about protecting your money, it is important to consider all of the possible threats that could challenge your wealth. Be sure you have taken some precaution and identified ways to protect yourself, your family, and your assets from unexpected costs so you can continue to enjoy the fruits of your hard work well into the future. Let’s talk about some of the ugly threats that exist that could absolutely wreck the health of your personal finance.

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If you are a professional or own your business, you need to be prepared for a variety of threats. This list ranges from sexual harassment accusations, to trademark infringement. A product you sell is discovered to be faulty, breach of contract, worker’s compensation; any of these could be challenging if you are not prepared.

Personally, the list of threats to your money is different and is challenging to finance. Divorce, for example, could make it difficult to recover if you fall behind in payments. According to MoneyCrashers.com, your spouse could have you thrown in jail for not paying your child support and the debt your collect by not paying cannot be removed. Other issues like auto accidents or even unplanned medical expenses like having to fight cancer can take its toll. So, what can you do to help protect yourself from all of these threats?

  • Take advantage of your state’s laws regarding homesteads and life insurance
  • Don’t mix personal assets with business assets; may be worth creating other business entities to develop layers of protection between your assets and the assets of your business
  • Consider getting a prenuptial agreement if you want to protect your money from divorce
  • Purchase insurance for the things you need to protect, including yourself from potential lawsuits or accusations so you don’t lose your house or other major assets
  • Protect yourself now…waiting is a mistake

Listen, we all aim to be great people, but sometimes we get ourselves into situations where we need some extra help. Having a criminal lawyer on hand is not a bad idea, especially with the triage of things you don’t expect. If you don’t want to finance another person’s million dollar lifestyle because of a mistake you made, reach out and find some help and see what protection is out there. You can find award winning law firms with just a quick search.

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You know your life’s work is worth protecting. It should be worth protecting from anything and you need to be ready to step into action if you find your personal finance at risk. Go out and be proactive, get what you need, and then live your life.


If Income Taxes Increase, Will Rich People Leave the USA?

If Income Taxes Increase, Will Rich People Leave the USA?

Ever since this country was founded, Americans have hated paying taxes. So it should come as no surprise then that many rich American citizens are considering leaving the country and renounce their citizenship to avoid paying those taxes.

The Abroad Tax Issue

The United States is one of the few countries world-wide to tax its citizens on income earned, even if they earned it out of the country. For example, you could work in France for an entire year and still owe income taxes in the U.S. based on how much you earned. This issue has been a leading cause of more and more Americans renouncing their citizenship.

In 2011, almost 1,800 Americans gave back their green cards and renounced U.S. citizenship. This was nearly eight times more than in 2008 and more than 2007, 2008 and 2009 combined according to IRS statistics.

Many Filing Abroad Issues

While the last several years have experienced an increase in the ease of filing taxes from more resources to increased software options, overseas taxpayers still have many issues they must contend with. A report released by the National Taxpayer Advocate’s Office, an arm of the IRS, said that heavy paperwork, few online filing options and language issues hamper these taxpayers.

Other issues that weigh on overseas taxpayers are two old requirements: Reporting foreign bank and financial accounts. This might not seem like much, but if you have joint accounts you need to list all assets in them. This means if you are married to a foreign national, you are required to list all of your joint assets to the IRS.

According to many tax lawyers, tax questions arising from listing bank account assets are a big reason that many U.S. citizens renounce their citizenship.

Abroad Taxpayers Recourse

There are currently about 6.3 million U.S. citizens living abroad who pay taxes on incomes earned overseas. When they have had enough of paying taxes to a country they don’t live in, they are left really with only one option: Renounce their U.S. citizenship.

This problem has caused many sleepless nights for U.S. citizens living abroad as they wrestle with tax problems and keeping their citizenship. Many of these overseas citizens have been faced with large fines and thousands in back taxes attributed to lack of information related to tax regulations.

While Congress has gotten involved and is researching ways to reduce red tape and undue burden on taxpayers, it isn’t likely to be a rapid change. For now, paying taxes overseas can become a gigantic headache requiring the services of CPAs and tax attorneys.

If you find yourself in this situation it is advised that you speak with an experienced tax attorney.

Author Jason Lancaster writes several different tax-related articles for Olson Tax Consulting, a Denver tax attorney who works with businesses and families to help resolve tax issues.


Working Hard For Nothing

 It is often said that if you work hard, you will become successful. There are those who would go so far as to say the people who are not successful simply have not worked hard enough. Although no one would dispute the value of hard work, it is not true that it will not always lead to success. Many hard working people have died penniless.

In fact, there have been many hard working people who have contributed great ideas that changed our society but were never rewarded for their labor and creativity. Examples of this are men such as Eli Whitney. He invented the cotton gin, but was never able to enforce a patent and made little money from his work.

The opposite end of the spectrum of wealth and labor are those who did nothing and were richly rewarded. Most of these situations revolve around the golden parachute. This is compensation that is guaranteed for many incompetent corporate executives when they leave a company.

Source: Business MBA – B-school Rankings


Patience Brings Wealth-Infograph

Warren Buffet has the mentality of a long-distance runner. He knows he will outperform others because he has more endurance. While others worry about short-term gains, he is thinking about the finish line. He puts every investment through the same process of financial analysis.

Don’t make your stock purchases or sales dependent upon current headlines, according to Warren Buffet. Look at the return on investment. Stock investments are about the most efficient use of money. This return-on-equity (ROE) calculation compares companies who deliver the best results based on the inputs they were given.

We may not have been born with the same wealth of talents. In financial circles, the money that companies get has equal value. One dollar equals one dollar. This assessment permits comparison between investments in different markets. Given one dollar – “What does the company do with that one dollar?” The highest profits accrue to the most efficient enterprises.

Source: Best Finance Schools


4 Reasons Why Your Friends Can Make You Wealthy

4 Reasons Why Your Friends Can Make You Wealthy

They say that you should choose your friends wisely. I firmly believe in this advice and try to follow it as best as I can. You may not be able to choose the people you meet or your circumstances but you can choose your friends. If you want to become wealthy then you should be mindful with who you hang out with. Here are 4 reasons why your friends can make you wealthy.

Network. Your network is equivalent to your net worth. You may be good in what you do but in order to succeed you will need certain people to help you get there. A powerful set of friends will speed up the process. Why do you think organizations exist? It is so that like minded people can gather together and help each other. But in order to receive, you have to giving. Receiving without giving back will result in bad karma. An open hand can receive more blessings compared to a clenched fist.

Mindset. If you want to be a millionaire hang out with millionaires. These people think and act differently from “normal people.” When you look at rich people and poor people you will see that they are not much different from each other. They are basically the same when it comes to looks, talent or skill. The only real difference between rich and poor people is mindset. Wealthy people have a powerful mindset. When they want something they don’t look at the barriers along the way. They focus on the goal. Friends are a powerful influence. Hanging out with successful people will equip you with the mindset you need to become a success.

Resources. Your friends can be your resource. Where do you turn to when you have problems? Aside from this, your friends can become your business partners. You can use each others expertise to mutually benefit each other.

Moral support. The road to wealth is fraught with trials and hardships. But you need not do it alone. Having the support of your good friends can go a long way towards driving you on to continue the journey.

Good friends are like diamonds. They are rare and difficult to find. So treasure the friends you have and look after them.

Chris Zuckerman is the President at his b deck and steel deck fabrication facility located in Atlanta GA. He loves to play golf and travel around the world with his wife and 3 kids.


How Networking Marketing Can Be Used to Fast Track Your Way to Wealth

If you follow the careers of most people about 80 % are either dead broke, depend on the state, or their parents, 19 % are financially independent and can stand on their own, while only 1% are rich enough to live life according to their own terms. In the state of today’s economy where nothing is certain one thing is for sure, there is no such thing as “job security”. Ever since we were young our parents would tell us to study hard, graduate with honors and get a good job in a huge company. But you know what no matter how big a company is when recession strikes, your job could be the one at risk. So why work for other people and make them rich when you can work for yourself and make you rich?

The reality now is that employees work their heads off six days a week for some large corporation, retire at 60 and realize that their pension is not enough. So what can you do to avoid this? Two words. Network marketing. Yes. This is an industry that has been creating millionaire after millionaire.

Here are 3 ways on how you can use networking marketing to fast-track your way to wealth.

  • Leverage. No matter how good you are or how fast you work there will always be limits. You are just one person with 24 hours a day. You might be able to do the work of 2, even 3 people but not for long. You’ll just get tired and stressed out. Why push yourself so hard when you don’t need to? The beauty of network marketing is that it give you leverage. Its system is structured in such a way so that you will be able to multiply your productivity through other people.
  • Team work. Network marketing is all about team work. This is one environment where you won’t have to step on anyone to go up. In fact if you want to succeed to have to help other people (your down lines) succeed. The system trains you to work to well with others. Here, you have to be a team player or you won’t get anywhere.
  • Passive income. In network marketing, your recruits or down lines are like seeds. Some may die but some will thrive. The more seeds you plant the greater the chance of having more thriving plants you will have. You have to take care of them and water them daily until they become strong enough to stand on their own. Once they can do this you will be able to enjoy passive income for life.

Amy C. is an interior decoration aficionado and online marketer.  She also likes testing and trying new home and office decorating themes.  In addition to being an interior decoration hobbyist, she enjoys designing calming indoor fountains and glass art.  Amy invites you to browse her delightful collection of  glass vases”.


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