OPEN's finance expert Mike Periu on Financial Markets Close Due to Hurricane Sandy For the first time in nearly thirty years, all major financial markets in the United States will be closed today due to weather conditions in anticipation of Hurricane Sandy's arrival. The decision was made late Sunday night to halt both physical and electronic trading at the New York Stock Exchange, NASDAQ, BATS and all CME Group exchanges including the NYMEX. The Securities Industry and Financial Markets … [Read more...]
How Hurricane Sandy Will Raise Your Insurance Premiums
OPEN's finance expert Mike Periu Hurricane Sandy Will Raise Your Insurance Premiums. Since 2007, homeowners' insurance premiums have risen 22 percent with the average premium now exceeding $1,000 for the first time. This trend will likely be exacerbated if Hurricane Sandy leads to billions of dollars in covered losses for insurance companies. Unlike the Gulf Coast, many homeowners in Sandy's path are insured by private companies that are under greater pressure to raise premiums as a way to … [Read more...]
Think Beyond Banks and Angels When Looking for Capital
OPEN finance expert Mike Periu discusses finding funding with Angels When Looking for Capital for small businesses. Think Beyond Banks and Angels When Looking for Capital A recent study by the Center for Venture Research at the University of New Hampshire indicates that angels invested over $9 billion in companies last quarter, an increase over the previous period. The problem is that virtually all of that money goes to medical device, software and biotechnology companies. What if your … [Read more...]
Keep a Watchful Eye on Retirement Account Fees
Finance expert Mike Periu on the hidden costs of retirement account fees. Today marks the end of National Retirement Week and if you have some free time this weekend you should "celebrate" by opening your retirement account disclosure documents. Most people don't bother reading the small print associated with retirement accounts but you should because these accounts aren't free. You are paying fees to a third party to manage your retirement account and by law these fees need to be disclosed. A … [Read more...]
How to Decide if It’s Time to Quit or Keep Going
Finance expert Mike Periu on determining whether it is time to quit or keep going. According to Harvard Business School Professor Rosabeth Moss Kanter "everything can look like a failure in the middle." As a small-business owner it can be difficult to gauge whether you are just going through a rough patch and need to persevere, or if there is a fundamental flaw with your business and you need to shut it down and move on to something better. Either case will feel the same "in the middle" and you … [Read more...]
Use “Financial Bucket” to Make Your Retirement Money Last
Finance expert Mike Periu on the "financial bucket" concept for retirement planning. October 26, 2012 A successful investment portfolio needs to include a combination of investment types with different risk/reward profiles. But how do you translate that into specific decisions that will build the investment portfolio you need to enjoy a good retirement? Many people are turning to the "financial bucket" concept. Each bucket represents a different phase of your retirement. The first bucket … [Read more...]
Should You Sell Investments to Avoid Higher Taxes in 2013?
OPEN's finance expert Mike Periu brings you a new development in taxation. You Should Sell Investments to Avoid Higher Taxes. Many financial experts believe that taxes on investment income—both capital gains and dividends—will likely go up over the next several years regardless of who wins the presidential election. Given this likelihood, small-business owners might want to consider selling profitable investments now to lock in relatively low tax rates. If you have a profitable investment with … [Read more...]
Debt Collection Industry Placed on Federal Supervision
OPEN finance expert Mike Periu on a recent development in the debt collection industry. For the first time ever, companies in the business of collecting unpaid debts from consumers and students will be supervised by the Federal government through the Consumer Financial Protection Bureau (CFPB). Beginning on January 2, 2013 the CFPB will ensure that these companies are properly identifying themselves to consumers, act in a civil manner, accurately communicate debt owed and have a conflict … [Read more...]
Potentially Embarrassing Foreclosure Information online
OPEN's finance expert Mike Periu on Embarrassing Foreclosure Information that is now available for free Online For many struggling small-business owners, enduring a foreclosure has become all too common. As revenues drop, keeping up with home mortgage payments becomes difficult or impossible. As a home goes through foreclosure, numerous filings have to be made with the clerk's office in the city or county where its located. Up until now, this information was only available by visiting the … [Read more...]
Cities and States Cutting Taxes to Boost Growth
OPEN's finance expert Mike Periu on cities and States Cutting Taxes, offer incentives and other business perks. Cities and States Cutting Taxes to Boost Growth As major cities across the country feel the squeeze of rising costs and lower tax revenues, some have decided that the best way to improve their financial situation is to cut taxes and offer incentives to businesses in a bid to have them setup shop in their city. Los Angeles offers a tax holiday on the gross receipts tax which can a … [Read more...]
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