Tag Archives: alternative investment

The Five Laws of Gold

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“Money is plentiful for those who understand the simple laws that govern its acquisition.” George S. Clason

In these harsh economic times, there are many people who believe that it’s almost impossible for them to become get ahead financially. They focus on their shrinking spending power and their apparent inability to achieve their goals and declare, “I give up!”

What most people fail to recognize that it’s not really their lack of money that’s keeping them broke, it’s their lack of financial literacy that’s holding them back. According to Wikipedia, financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances.

You can actually learn how to manage your money effectively, multiply your money to create wealth, and maintain your money to preserve it for future generations.

So where can you obtain an education on financial literacy? The bad news is that the art and science of managing money is not taught in schools, although it should be. The good news is that the information is still available if you look for it. Continue reading The Five Laws of Gold →

Mutual funds have benefits, but be careful of the fees!

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Jamaicans are becoming more conscious of the need to make their money work for them. Gone are the days when most people were satisfied with the security of a bank account because it was all they knew. Whether they’re rich, of modest means, or barely making ends meet, people are looking for investment opportunities that can bring more profitable returns, and help them fulfill their financial dreams.

While the lure of high-yielding ‘alternative’ options still abounds, investors are warming to the concept of mutual funds as a viable method of investing. Many financial institutions have had to scramble to find products that could compete with the earning potential of the alternatives, and are now offering overseas-based mutual funds. These also offer the opportunity to save in foreign currencies such as Canadian and United States dollars.

A mutual fund is an investment vehicle that pools together the investors’ funds and uses the money to purchase assets such as stocks, bonds and money market instruments. The mutual fund company has specific objectives and restrictions that determine how the funds can be invested. Continue reading Mutual funds have benefits, but be careful of the fees! →

It’s Tax Time!

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“Time is running out: file outstanding income tax returns by March 15. We would rather see you sooner… than later.” The Tax Administration department has been conducting a very visible media campaign to remind people that it’s time to pay income tax. We can’t say we haven’t been warned!

Who exactly is being targeted in this tax compliance drive? According to the Tax Administration’s website, www.jamaicatax.gov.jm, income tax is to be paid by all individuals and companies, at the specified rates, on all income or profits earned or received. Some persons, such as pensioners, non-residents and the disabled are entitled to specific tax exemptions. Continue reading It’s Tax Time! →

Making Money in the Forex Market

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“Many of my friends are talking about making lots of money in currency trading. However, I feel a little nervous about it, because I have seen all the advertisements telling us to be careful how we invest our money. Is investing in foreign exchange trading really legal, and why has it become so popular recently?”

Jamaicans are usually never far behind in following the international trends, whether it is the latest car, clothing line or hit music. It was only a matter of time before we discovered that there was money to be made in the financial world’s largest and fastest growing market – trading in foreign currencies.

Foreign currency trading, also called forex, currency market, foreign-exchange market, or just simply FX, has until recent years been carried out only by big financial institutions, large conglomerates and central banks.

However, the growth of the internet and the increase in investors’ knowledge and appetite for risk, has allowed many average people to take advantage of this investment opportunity. Continue reading Making Money in the Forex Market →