Daily Archives: February 26, 2009

401K, Financial, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Nabers Group to Give Away Self-Directed Solo 401k

Nabers Group, the world’s first and only full-service self-directed plan provider, has launched a contest to give away (i.e., set up) a Self-Directed Solo 401k plan at no cost to the person who offers the best insight(s) into what he or she thinks are the most powerful business or investment opportunities given today’s recessionary economic environment.

The Self-Directed Solo 401k is a qualified retirement plan that helps business owners grow and preserve their retirement wealth by enabling them to legally invest their retirement savings in alternative investments such as real estate, mortgage notes, private businesses, precious metals, and other qualified assets. The Solo 401k has already helped thousands of serious investors diversify their retirement portfolios beyond stocks, bonds and mutual funds while still enabling them to receive the much desired tax advantages the traditional IRA and 401k offers.

Eligibility: To be eligible to enter to win a free Solo 401k account, the entrant must be self- employed or have self-employment activity (such as Schedule C income on entrant’s 1040 or own a business). The entrant cannot have any employees at any businesses in which the entrant or the entrant’s spouse has significant ownership.

How to Enter: To participate, entrants must do two things:

1) Add Jeff Nabers, the founder of the Nabers Group, as a “Friend” on Facebook. This will enable entrants to stay apprised of events, news and u p d a t e s f r o m Nabers Group. The winner will be posted on Facebook and at JeffNabers.com.

2) Write a brief explanation of what they think are the most powerful business or investment opportunities today given that the country is in a recession. Entrants should submit their comments on the (www.Solo401k.com) blog or post to the “Wall” at the bottom of the Facebook Solo 401k Contest page.

Selection: Each entry will be reviewed by officials at Nabers Group. The person deemed to have the best idea(s) will get a Solo 401k set-up for them at no cost by Nabers Group.

Prize Value: Valued at $210,585, a Solo 401k f r o m Nabers Group can be the investment vehicle to lead to your financial freedom. See the math at FreeSolo401k.com.

Deadline: Entrants must submit on or before March 15, 2009.

 

About Nabers Group
Founded in 2005, Nabers Group is the world’s first and only full-service self-directed plan provider that helps investors and self-employed business owners establish and set up Self-Directed IRA LLC accounts and Solo 401k plans. Nabers Group was the first company to offer the Self-Directed Solo 401k and regularly educates the public about unrestricted investment options that would enable use of retirement dollars to invest in alternative investments including real estate, mortgage notes, private stock, debt instruments, foreign assets, margin brokerage accounts, precious metals, among other assets. For more information on self-directed investing or the Solo 401k, please visit Nabers Group at Nabers.com.

Official Free Solo 401k Facebook contest page:
http://www.facebook.com/event.php?eid=21272779981

Via EPR Network
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Banks, Checking & Savings, Financial, Investment, ISAs, Money, Personal Finance

New Fixed Rate Cash ISA By Lloyds TSB

Lloyds TSB has announced the launch of a new Fixed Rate Cash ISA, offering savers the opportunity to earn a competitive tax free rate up to 3.20 per cent.

Available from 16th February 2009, the new Fixed Rate Cash ISA rate is guaranteed for 12 months from the date of account opening. Accounts can be opened with a minimum deposit of £3000 and will accept transfers from previous tax years.

Janet Pope, savings and investments director at Lloyds TSB said: “In this unpredictable rate climate, savers are moving towards fixed rate products. The security of knowing exactly how much you will earn on your savings is invaluable in today’s uncertain environment. This product is ideal for those looking to get a guaranteed, tax free return on their nest egg.”

Nearly half (46 per cent) of ISA holders questioned by the bank say they will be opting for a fixed rate in the 2009/2010 tax year, with only 11 per cent willing to take a chance on a variable rate ISA. Just seven per cent of savers believe that interest rates will rise in the next 12 months, but almost a quarter (22 per cent) anticipate further cuts.

Janet Pope continued: “Now is not the easiest time to be a saver, as interest rates are at an historic low. This makes it more important than ever to utilise the tax free allowance available, but with the 2008/2009 tax year end looming on April 5th, six out of ten ISA holders have not yet taken full advantage.”

The findings show that 63 per cent of ISA holders have yet to use the full £3600 available to them, with a further 40 per cent admitting they do not have an ISA despite having savings elsewhere.

Research conducted by ICM online with 2000 UK adults in February 2009
A minimum deposit of £3000 is required
Customers may only make one deposit for the 2009/2010 tax year

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, personal loans and credit cards, designed to meet different customers’ needs. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.

Via EPR Network
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Financial, Financial Services, Insurance, Insurance Services, Money

Cash Strapped Brits Plan To Cut Insurance

Research by insurer LV= has revealed that more than five million Brits (12%) plan to cancel or reduce one or more of their insurance policies over the next 12 months, in a bid to save money during the recession, with home insurance policies set to be the hardest hit.

Of the 5.1 million who are looking to change their level of cover to save money 44% are considering cancelling or reducing their home insurance. Overall, the most popular element of home insurance cover to cut is flood insurance, with 29% of people saying this would top their list. This is despite numbers of flood claims increasing dramatically in the last three years due to bad weather and costing an average of nearly £17,000* each time.

Among those that are planning to cancel or reduce their insurance policies this year, 37% said they are considering downgrading their car insurance. Motorists in this situation should bear in mind that car insurance is a legal requirement. If they are caught without the right insurance they could risk a fine of £5000, disqualification and the car being seized and crushed by the police.

Another popular type of insurance to be cut back on is travel insurance. Almost a quarter of those who intend to cut back (22%) said they plan to cut or reduce their travel cover. Travel insurance is extremely cost effective, with insurance for a week in the sun costing from under £20**. This is compared with the cost of an air ambulance from the Canaries back to the UK carrying a fee of around £16,000***.

On average, those who are planning to cut their insurance cover this year believe they will save £125 over the course of the year, working out at just £10.41 in savings a month.

LV= warns consumers that they could leave themselves underinsured and exposed to costly bills by being too hasty in cancelling or reducing important cover.

John O’Roarke, managing director of LV= general insurance, said: “It’s understandable that people are looking to ways in which they reduce their outgoings, however cancelling or reducing essential insurance cover could result in many people finding themselves seriously out of pocket if something untoward happens.

“Home contents insurance is not legally required but anyone who has suffered a flood or break in will know how important it is to have cover in place as if you do have a problem and you don’t have cover, the cost often runs into many thousands of pounds.

“I would just urge those looking to save a few pounds to consider the wider implications of leaving themselves without valuable insurance cover this year, as it is at time likes these, when money is short, that insurance becomes evermore important.”

* LV= internal claims data
** £17.62. Based on a 28-year-old male, travelling to Europe on 12 February for one week including personal possessions cover, £10 million medical cover, £5000 cancellation cover and £2500 for baggage and £500 for lost or stolen money. The policy has an excess of £50.
*** Commonwealth Office (FirstAssist)

Opinium Research carried out a survey of 2141 people between 16 and 20 January 2009.

 

About LV=
LV= is a trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

LV= employs more than 3400 people, serves more than 3.6 million customers and members, and manages around £7 billion on their behalf. We are also the UK’s largest friendly society (Association of Friendly Societies Year Book 2006/2007, Total Net Assets) and a leading mutual financial services provider.

Via EPR Network
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