Your financial planner could be a nice addition to yourself managed funds because if you are still new to this he or she will be able to answer any of the questions you would possibly be having. I always love having a go-to person I can ask questions concerning my financial situation. Plus, if you have had your financial planner for a while he or she knows all about your financial history and will tell you whether this might be a sensible option for you or not.If you find a site on-line that offers the documents for self manager funds or self managed super (superannuation) funds, guarantee the package includes ALL of the documents listed below in order to set up the fund. These documents and the website you select can enable you to choose the trustee (individual or corporation) and allow you to choose different options for the deeds as well. The package of documents ought to include:

- Product Disclosure Statement – in plain English! This will summarize the features of the Self Managed Funds plan.

- It ought to have consents for all of the individuals involved including the trustee and the directors of the trustee.

- Applications for beneficiary, noticed and TFN notices for all of the Self Managed Super Funds.

- An ATO Trustee declaration form for any or all of the trustees.

- The actual Self Managed Super Funds trust deed.

- And lastly, an Establishment Kit (sort of like a business plan) to help you decide what steps to take next.

Also, whether you choose to go through your financial planner or use an internet based financial planning service, make sure that the documents and the self managed super funds itself are updated and that the website offers lawyers for your own benefit. You’ll need quite a few pieces of information so as to purchase Self Managed Super Funds from an internet based system.

Here is a small check list for your benefit. Note: This is just a small example; please verify with your local agencies to find the full list!

- The Name Of The Self Managed Super Funds

- The Date in Which It Will Be Established

- The Name, Address and Any Other Information about the Person Who Is Attempting To Establish the SMSF.

- The Number of Members That the Self Managed Funds Can Have When It Is Established

- The occupation, birth details, address, tax information number of all members and their relationship to you, their beneficiaries name and the proportion that each member should get.

In all these information, you must also note who will attend the conferences of the Self Managed Super Funds, who will be the chairman of the meetings, what date and time you plan to have the meeting, etc. Once you fill in all this information on the internet based financial planning service site, you’ll be emailed for verification and notification purposes.

For a company to decide which type of voluntary liquidation is appropriate, the company directors must first review their current financial situation and look at the reasons as to why the company is failing. If there is a chance that the company can be saved, then a financial advisor may be able to suggest an alternative procedure.

If a company director owns a family business and wishes to retire but there are no family members to pass the business onto then a decision may be made for the company to enter a Members Voluntary Liquidation (MVL). This procedure is also ideal if the company is solvent. Before making a declaration that the company is solvent, company directors must be sure that they are able to pay off any debts, otherwise they could face penalties.

If a company is insolvent, then a decision may be reached to enter a Creditors Voluntary Liquidation (CVL). During this process, company directors will lose control of their company to a liquidator, who along with creditors will investigate the company and question directors as to why the company has failed. This process may be difficult for some companies, but will allow the liquidator to take control of the company’s assets and ensure that creditors are paid.One of the main disadvantages of voluntary liquidation is that companies will have to cease trading. Companies who continue to trade whilst insolvent could have action taken against them for wrongful trading. Company directors who believe that the company is able to continue trading may need to consider an alternative option to liquidation so that the company has more chance of surviving. A qualified insolvency practitioner can also advise companies on which route to take as well as taking on the role of a liquidator.

Coins are extremely easy to handle and store, in contrast to bars or bullion, which is not. They are manageable in size. They are easy to hide for the sake of security, and they are not heavy, so are easy to carry from place to place. This makes their sale much easier than bullion.

Coins are also very easy to buy. The buyer only has to check the karat and percentage. These should be 24 k and .9999 percent, respectively. When buying or selling bars, they must be assayed. This means involving transport and a third party, all which make for a security problem. This is not true for coins.Collectible gold coins are not only a beautiful acquisition; they have a history behind them. They have been in circulation for some period of time. The following coins are not all that are collectible, but are the major ones.

American Gold Eagle Coins

These coins are beautiful, one of their pluses. They are considered possibly the most beautiful of all coins. A nest of eagles is on the reverse side, and a walking liberty on the obverse side. They were minted and issued as $20 with a $20 face value. They can be bought directly from coin dealers or at auction, such as at Ebay. Of all coins collected and traded, they are the most traded. They consist of 91.67% gold and are 22K. This is below the desired standard, but because of their beauty they are still much desired.

Canadian Gold Maple Coins

These coins rival the Gold Eagle coin for beauty, and are even considered the most beautiful in the world by some. They are the most pure, consisting of .9999% 24 karat gold. They are inscribed on the obverse side with a bust of Queen Elizabeth II and the maple leaf on the reverse side. They are legal tender in Canada, and can be purchased from most coin dealers.

Gold Krugerrand Coins

The South African president, Stephanus Johannes Paul Kruger is the figure depicted on this coin. Due to several adventure movies featuring the coin, it became very famous. It contains a full ounce of gold, one of the first to do so. It can also be obtained in one-fourth, one-half, and one-tenth ounce sizes. Though they are not beautiful like the Gold Eagle and Maple Leaf, they are nevertheless at a premium due to their popularity. They can be gotten at most coin dealers, but demand a high price.

Silver Collectible Coins

These coins have all the advantages of gold coins, except the beauty. Most of the silver coins are not considered nearly as beautiful as the gold coins. Most investors actually collect the junk dime, because it is so cheap, readily available, and result in the best investment. Silver has risen in price much more lately than has gold; making these silver coins the better investment. Still, the beauty of the gold coins can’t be discounted. Collectors tend to collect them for their beauty as well as their investment. In a time of great economic catastrophe, though, beauty might not be such a consideration.

In summary, the advantages of coins are that they are relatively easily obtained and have almost nonexistent buying and selling costs. They can be stored locally and handled with ease. They are readily available to the collector to admire. Coins are also easily recognizable and can be assumed to have certain known traits, though if they have been tampered with, this won’t hold true. Tampering will probably be evident, however.

Recently, I was attending a lovely event hosted by Aloft Hotel and VIP Williamson County Magazine. The event was on St. Patrick’s Day and was organized as a means to introduce ourselves to the community and share some Luck-O-The-Irish!

During the event, while chatting with a member of the VIP team, the topic of this month’s article came up. I asked “What do you think would be an interesting topic?” The response was around tax returns and what to do with your refund. She had stated, in talking with her friends, they couldn’t wait to get their return and plan how they were going to spend the money. Most of my clients may be at a different spectrum than a young crowd anticipating a nice tax return, but the concept of Time Value of Money applies to All.

How you choose to invest, or spend money, has an impact on the long term perspective. If you purchase something (say a big screen TV) it has a cost. Not only is it the cost of the item, but also the lost opportunity cost. You can no longer make money on the money you spent to buy your TV. Please allow me to explain.First, we must talk about the Rule of 72. The rule states if you divide your interest rate into 72 that is how often your money will double. If we are getting a 7% return for example, our money will double in 10 years (72 / 7% = 10 years). Not sure how it works out, but that is the rule, and it has worked for centuries. Back to our big screen TV. Our TV cost us $2,000. We write the check and feel good about our purchase. We however, can no longer use the $2,000 for anything else. Let’s assume you are 45 years old, and were considering saving money for retirement at age 65, 20 years from now. Using our Rule of 72 we would have had the opportunity for that money to double twice. 7% return over a 20 year period, the money would double twice. Your $2,000 TV then really costs–$8,000 in retirement usable funds. Your $2,000 would appreciate to $4,000 in the first ten years, and then over the next 10 years, $4,000 to $8,000. When purchasing something remember the Time Value of Money and Lost Opportunity Costs!

This is also an effective rule for folks who are later in years and want to pass money on to the next generation with the least amount of tax. The concept is utilizing something called a Stretch IRA. Keep your IRA completely intact after you leave this fine earth, allow it to continue to grow tax deferred, and only allow beneficiaries to withdraw a small amount (the required minimum distribution). The result… huge sums of money for generations to come. It doesn’t take a lot of money; it is making wise decisions with small sums of money that lead to huge impacts on life!

But you need to start now. A journey of a thousand miles begin with a step. Don’t wait to get started, that is the mistake most people make. No matter how big or small your money is, you can save, invest and enjoy the benefits of managing your money. But unless you get started, you won’t make a dime. The sooner, the better.

It always pays to learn about investment. Whatever you set your mind to do you can do it. A wise man once said that the road to wealth is as plain as the road to the mill. To put it simply, reduce your expenses, save the excess and invest your money after thorough education about investing.Okay now we want to invest but where is the money. Don’t worry. Read on. But the most important thing is that you have agreed that there is a need to secure your future. And you have decided to invest as it is the best route on the road to financial independence and greatness. That is the first step, congratulations for that.

Now how do you get the money needed, for saving and investment? To get money you need to invest, start with the ones that pass through your fingers everyday. Oh yes a lot of money pass through the fingers of the average person everyday. Even if you are not working you still come in contact with money every day of your life. Think of the many times you are dashed money, or the ones you get from doing menial and sundry jobs for friends and relatives. Yes caught you there I know.

Before you tell me that the money is not usually enough, stop right there. See you didn’t even knew that some money crosses your finger before I told you. Yes I know that you have a lot of things to take care, that you don’t usually have any left. But relax I’ll show you how to save and invest from that same money.

Again you can get a job. Oh yes, you can get a part-time or full time job to fulfill your dream of a better future. This is because you know the long term benefits is worth it. So since you need money for your investment you try as much as possible to get the money you need, if it means getting a job, do it.

Whether you are unemployed or employed you should save. Whether you are earning much or earning small, save. Even if you are businessman you can decide on an amount to save. Look let me tell you the truth, if you can’t save money when you are getting $1000.00 you won’t when you are getting $100,000.00 and that is the truth.

There is a famous saying that goes, your savings will one day go save you.