Life can be unpredictable and does not always turn out as we planned. Being
prepared for a catastrophic event is vital to the sustainability of every
business. It is important to prepare for
the worst case scenario, thus allowing you to relax and plan for the best. To
help you create a plan that addresses the needs of your business, Below is
information on the key components that are crucial to have in place to ensure
the long term stability of your company.
Consult a Professional
Consulting with a professional will guarantee that you will understand the
options available to meet the unique needs of your business. Therefore we
recommend that you consult with the following professionals: an attorney, an
accountant, and an insurance agent.
In the unfortunate event of a death or disability, maintaining the
financial stability of the business members is essential to the continuation of
the business past the loss. We recommend requiring all members to have
disability insurance, life insurance, and health insurance policies that are
payable to the member’s families. This
will provide financial security for the business members and their loved ones.
Every business should carry a life insurance policy on its owners. This will provide the
partners/members/shareholders with the financial ability to purchase the
business in the unfortunate circumstance of a death.
Prepare an Exit Strategy
It is important to have a plan in place that will allow the daily
operations to continue if you are no longer able to participate in your
business. The continuation of the
company affects not only the owner’s family, but it also affects the job
security of the employees. To protect
your company, it is important to discuss possible third party options for
ownership. Often times there are family members or employees that could …
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Are you planning to sell your house of late? You might be shifting to a new city soon and need to sell off your old property fast. Now, home sellers are often in a dilemma whether to sell house the traditional way through real estate agent- or to sell house as is to professional house buyers. Well, the post below offers a brief on selling house with real estate agent versus selling house as is to investors.
Selling house through real estate agent
When you sell house through real estate broker, your house will be listed in the market for prospective buyers. The agent will bring buyers to your home, show them your property and negotiate the deal for you. In case, your home needs repair, you will have to take care of most of the fixes beforehand. However, a potential buyer might also agree to take up the repair works but that would affect your selling price.
But selling through real estate agent is a time consuming and uncertain affair. You never know how long will it take to find the right buyer. Most importantly, you never really know for sure whether your realtor will be able to find the ideal buyer. At times, home sellers are forced to settle with not-so-compatible deals just because they were in a rush. So, you always have such risks with a realtor. Then, it takes 30 to 60 for the final closing after your buyer accepts the deal.
Moreover, when you sell your home through a real estate agent, you have to pay a certain amount as commission to the broker. It’s something like 6% on average on part of the seller. You will also need to pay around 2% closing costs. On top of that, sellers selling through real estate …
Investment in metals has been part of forex trading as early as the ancient times. Old civilizations traded gold, silver, and other precious metals in exchange for other things with the same perceived value.
The same premium is placed to precious metals up to now. However, as a beginner, you may be overwhelmed with the things you have to know before starting your journey as a precious metal investor. This short yet concise guide will give you pointers on things that you need to know before trading precious metals.
5 Things You Need to Know Before Trading Precious Metals
- Metals have different categories.
Among all the precious metals, gold and silver are the most popular ones for trading. However, there are various kinds of metals that are valuable and can be used in other industries. For example, iron and steel are used for construction businesses. Rare earth metals are used for various industries and for energy production. If you plan to diversify, you can try exploring other options aside from gold and silver. Forex companies such as FXTrade777 can give advice on what kinds of precious metals are selling in current market.
- Metals can be invested in different ways.
The common notion is that precious metals investors would store gold through the form of bars or coins. Although this method is still used nowadays, there are other ways to invest in precious metals. For example, you can invest in metals through being a stakeholder of a mining company. There is also a method called Exchange Trade Fund, where you buy a share of fund containing bonds, stocks, futures and options.
- You need a secure storage for precious metals.
If you plan to store your own precious metals, you need a very secure storage. You must be ready to …