Written by Adam Sullivan on November 10, 2011.
Centennial Bank primarily offers different savings options for individuals, whether it is CDs, IRAs or savings account. They do offer one savings account; however, it is variable meaning the rate on the account can change at any given time. Don’t let that scare you off though because it is currently a high rate of return.
With a low $500 minimum opening deposit and balance, you can earn 0.80% APY on the Variable Savings Account. The interest on the account is compounded daily and posted monthly. If your balance falls below $500, then you will not be able to earn any interest. Also, this account is allowed 4 withdrawals per month.
Terms & Conditions: Rates subject to change without notice. Rates effective as of 10/3/11.
Written by Joseph Perry on November 5, 2011.
Readers Question: I want to understand what happens when the exchange rate depreciates and appreciates please can you make me a brief summary based on exchange rates.
- Depreciation – fall in value of exchange rate – exchange rate becomes weaker (see also: definition of devaluation and depreciation)
- Appreciation – increase in value of exchange rate – exchange rate becomes stronger.
Example of Pound Sterling depreciating against the Dollar.
- £1 used to equal $2. Now £1 is only equal to $1.75
What does this Depreciation in the value of the Pound mean?
- Buying goods from America becomes more expensive. If a meal cost $10 it used to require £5 for a British tourist. But, now after the depreciation the $10 meal will cost effectively £6.67
- The depreciation in the pound may discourage British tourists to travel to the US.
- It makes US imports into the UK more expensive so it may reduce UK imports
- UK Exports will become relatively more competitive. It is cheap
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Written by Scott Barnes on November 4, 2011.
WASHINGTON –U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, today slammed Senate Democrats for offering a flawed $60 billion infrastructure spending bill (S. 1769) that would use permanent tax hikes for temporary, second-stimulus spending and undermine much-needed job growth during a speech on the Senate floor:
Mr. President, let us be clear about what the Democrats’ Rebuild American Jobs Act is and is not about.
It is about expanding infrastructure spending, financed by tax increases.
It is about setting up a brand new government bureaucracy, in the form of an infrastructure bank that will take years to get underway and will subject taxpayers, once again, to private-sector risk taking and to bailouts.
It is about following in the footsteps of the ongoing, costly, government sponsored enterprises — or GSEs — called Fannie and Freddie.
It is about increasing the federal footprint in the infrastructure arena.
It is about increasing taxes on those with incomes above $500,000, now creatively called millionaires, including incomes of many business owners who risk their own capital to create jobs. It is about further federal wage controls on construction projects which lead to inefficient use of taxpayer funds.
And it is about creating political talking points for the upcoming Presidential election.Now here is what the legislation is not about. It is not abo
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Written by Adam Sullivan on November 2, 2011.
Concerns over the European debt market led U.S. mortgage rates to nosedive to their second-lowest levels ever, Freddie Mac said yesterday.
Freddie Mac’s Primary Mortgage Market Survey revealed that, for the week ending November 3, 2011, 30-year fixed-rate mortgages (FRMs) fell to an average of 4.00 percent after averaging 4.10 percent last week.
This mark of 4.00 percent is just a few ticks higher than the all-time record low of 3.94 percent recording back in the week ending October 6, 2011, Freddie Mac said. One year ago at this time, 30-year FRMs averaged 4.24 percent.
“Market concerns over the European debt market drew investors to U.S. Treasury securities, lowering bond yields and mortgage rates,” Frank Nothaft, vice president and chief economist, Freddie Mac, said in a statement.
Average rates for both 15-year fixed mortgages and 5-year adjustable rate mortgages (ARMs) both fell sharply for the week ending November 3, 2011, as well.
15-year FRMs averaged 3.31 percent, down from 3.38 percent one week earlier, while 5-year ARMs recorded a huge drop to an average of 2.96 percent after coming in at 3.08 percent last week.
Despite apprehension about the European market, Nothaft said that the U.S. econo Read more…
Written by Scott Barnes on October 30, 2011.
He wrote an article for the NY Times called (a little jab at ?), which covers one of the cognitive fallacies discussed in the book caused by overconfidence amongst professional stock-pickers and money managers. First, he covers what some of you may already know about the performance of actively-managed mutual funds:
Mutual funds are run by highly experienced and hard-working professionals who buy and sell stocks to achieve the best possible results for their clients. Nevertheless, the evidence from more than 50 years of research is conclusive: for a large majority of fund managers, the selection of stocks is more like rolling dice than like playing poker. At least two out of every three mutual funds underperform the overall market in any given year.
The second story was more personal, and had to do with a small group of financial advisors.
I asked for some data to prepare my presentation and was granted a small treasure: a spreadsheet summarizing the investment outcomes of some 25 anonymous wealth advisers, for eight consecutive years.
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Written by Admin on October 30, 2011.
Before deciding to plan out your retirement it is essential to decide as to which IRA will be a better option to invest. Roth IRA or traditional IRA’s? Hence stay witty. Check out the offers provided by various IRA’s. Then decide which one of them should bear your savings. For more information on Roth IRA and its rules visit the following link visit roth-ira.org.
When it comes to Roth IRA , the fact that it is tax free attracts individuals towards it. The fact that even the amount of tax you need to pay is being monitored by the computer makes it more convenient for the user. As you needn’t break your head in all those mathematical calculations. The l Read more…
Written by Adam Sullivan on October 28, 2011.
HANNAH EVE EDWARDS, BRI ASSET MANAGEMENT
I recently met Martin Gray, manager of the CF Miton Special Situations fund, and have been very impressed with the long-term performance. It’s a multi-asset global fund, driven by Martin’s macroeconomic views, and as well as achieving excellent capital growth it has been very defensive in times of market weakness. .
DARIUS McDERMOTT, CHELSEA FINANCIAL SERVICES
For low risk we tip CF Miton Special Situations and HSBC Open Global Return, a multi-asset fund. For medium risk, Artemis Strategic Assets and M&G Global Dividend, and for those with a high risk tolerance we like Rathbone Global Opportunities and Aberdeen Emerging Markets.
I invest in a combination of these.
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Written by Joseph Perry on October 24, 2011.
Wouldnt it be great if colleges handed out financial aid for events like Halloween, Christmas, etc? Sigh, if wishes were horses. However till that happens, all of us poor students living on a budget can make do with the following tips and tricks that allow you to make the most of Halloween on a small budget.
Whats the biggest budget buster on Halloween? You guessed it right, its the COSTUME. Time to go DIY! Skip the malls and visit the thrift stores. Youll be amazed that with a little bit of creativity you can make a costume as good as the store bought ones for a fraction of the price. Also have a look at our last years post which showed you how to make costumes for Halloween
Out of the box: Go for a masquerade!
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