Monthly Archives: May 2017

Easy Payment solutions for Home-based businesses

Posted By Financial Independence Hub | May 17, 2017

By Cher Zevala

Special to the Financial Independence Hub

More and more people are striking out on their own and starting their own businesses. Whether they simply want the freedom to work from anywhere in the world or feel they have something worthwhile and valuable to contribute to the business world, today is the age of startups and home-based businesses and customers are flocking to them.

For the owners and managers of these businesses things can look a lot different when, all of a sudden, you have to be the receptionist, the accountant, the inventory manager, and virtually everyone else who staffs a business. However, most of these are one-person operations, which can be difficult to manage.

The end result of any business is to make a profit. While you need to direct your attention to all aspects of your new business the ultimate goal is to get paid; if your company exists solely on the web you’ll need the tools to make it easy for your customers and clients to pay you. Here are few easy payment options that accomplish that:

PayPal

In many ways the dinosaur of online payment systems, PayPal remains an easy way to receive payments provided your customer has a PayPal account. Not as popular as it used to be, it’s still a wise choice to have a PayPal payment option on your business website.

The funds you receive can be transferred to your bank account but some people choose the option to leave money in their PayPal account and use it for other purchases that offer PayPal. The choice is entirely up to you.

E-Commerce Plug-ins

Business owners need to step up Wealth transfer plans for next generation

Posted By Jonathan Chevreau | May 16, 2017

Here’s my latest High Net Worth blog for the Financial Post, titled Only 40% of new business owners have transition in place, says new report.

The latest in a series of global surveys by RBC Wealth Management and Scorpio Partnership finds that while more than a third of business owners in the United States, Canada and the United Kingdom have a full formal plan in place to pass their wealth on to their heirs, one in five have not even started to plan.

RBC surveyed 384 high-net-worth and ultra-high-net-worth individuals in the three countries, with average investible wealth of US$6.4 million. While 51% of business owners have a will in place, a startling 22% have not yet started any sort of wealth transfer preparations; which means “the majority of business owners are relatively unprepared to pass on their financial legacy,” the report says.

One of the experts I consulted was business transition and valuation expert Ian R. Campbell, who recently wrote a Hub blog about Donald Trump’s business transition plans for his high-profile family members. It was also the basis for an earlier Financial Post column by me headlined Donald Trump is upping the ante in the Wealth Transfer game.

Mortgage Brokers vs. Banks: Which is better?

Posted By Financial Independence Hub | May 16, 2017

By Alyssa Furtado, RateHub.ca

Special to the Financial Independence Hub

Shopping for a mortgage can be a challenging task. Much like when you buy a car, it can be hard to get clear information. Mortgage rate comparison websites like RateHub.ca can help you learn about your options in general terms. But when it actually comes time to apply, a mortgage agent can give you objective advice and get you the best mortgage rate.

Canadians have two main options when looking for a mortgage: banks and mortgage brokers. When you talk to a mortgage advisor at a bank, you have the ability to negotiate directly with someone at that financial institution. When you work with a mortgage broker, he or she will work with a number of different lenders and negotiate on your behalf.

These are two different approaches to the same thing. But which option is better?

Each has benefits and drawbacks

To answer this question, we need to dive in to the benefits and drawbacks of each. Let’s start at the bank.

When looking for a mortgage, you can expect the mortgage advisor to be quick and responsive. You’ll have the option of convenient face-to-face meetings, and many banks even have mobile salespeople who will come to your home to discuss your mortgage needs. Continue Reading…

The pitfalls of naming your children co-executors

Posted By Marie Engen | May 15, 2017

I was named executor on both my father- and mother-in-law’s wills. I had copies of the wills and other documentation I might need. So, imagine my surprise when I just recently found out that I am a co-executor on my own parents’ wills. These wills were prepared in 1992 and I was thinking: “When were you planning on springing this information on me?”

My brother and I are joint executors. You can name more than one person to serve as executor and a lot of people appoint their adult children as co-executors. The primary reasons are they want to treat their children fairly, and they don’t want to hurt any of their children’s feelings. By making sure they are all included in the administration process it can help share the burden.

These are perfectly valid reasons. It can be a good idea: or a terrible idea.

Drawbacks of naming co-executors

It is understandable that parents wouldn’t want to appear to play favourites in naming their executor. Continue Reading…

As “new” China economy stabilizes, markets poised for upside surprise

Posted By Financial Independence Hub | May 13, 2017

By Dwarka Lakhan (Sponsored Content)

There is growing optimism that the Chinese markets will surprise on the upside as government reforms begin to take hold.

Since the beginning of the year, the country’s macro-economy has stabilized, fuelled by strengthening industrial output, an expanding service sector, rising retail sales, steady growth in electricity generation, power consumption and rail volume, and robust domestic demand.

Valuations are currently quite attractive, following a significant correction in China’s onshore markets from their 2015 highs. Non-financial blue chip companies are presently trading at an average of 15-20 times price/earnings ratio, below their historical highs.

Upside surprise waiting, Barclays says

Recognizing the potential for investors to make gains in China, Barclays Capital recently noted that there is an upside surprise waiting in the wings for China investors. “We think the latest data from China point to continued robust growth,” says Jian Chang of Barclays in Hong Kong.

The resurgence of optimism over China stems from the “new” China economy picking up steam on the back of reform-oriented government policies that are represented by the deliberate shift in focus from export-led to domestic-generated growth.

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