Protecting Against Identity Theft

Here are some figures to ponder over -- In the US alone, 2012 saw over 12.6 million people fall victim to identity theft. This translates to roughly a victim every three seconds. From the finance point, almost $21 billion was lost as a result of such theft. Close to 1 in every 4 customers had their identities hacked into because they responded to a fraudulent data breach letter.

With every passing day, cyber criminals are getting smarter in the way they go about their work, and they are able to scale most safety protocols put in place. Individuals 50 and older may be use to simpler times, but with a large number of senior citizens now turning to the Net for their banking and finance requirements, it is important for them to understand how to protect themselves.

Here are a few simple ways for individuals older than 50, and anyone else, to avoid being scammed and hacked and to keep their identity details safe from cyber criminals.

The core of your identity is your social security number, and it is the simplest piece of information with which a cybercriminal can create a whole new identity for themselves. Never carry your number on your person or in your wallet. Ideally, have it memorized and use it only when absolutely required in public places.

Pins are an essential part of every banking instrument. You have one for your credit card, debit card, any banking related privilege cards and more. Many people who are prone to forgetting their PINs tend to write them down on a piece of paper and keep it in their wallet or save it on their mobile phone. Losing both of these can mean that your PINs are out for all to see. When keying in your PINs, always place a palm over the keypad.

One way identity theft occurs is when people actually take the trouble of going through your garbage or stealing your mail. Having a secure place for disposal and ensuring that any document with your account number or other private details is thoroughly shredded before being thrown away is important.

Make it a habit to scrutinize all bills and statements, especially those related to online transactions, to make sure private information is not left for prying eyes.

By default, no authorized bank or official representative will ask for your password or secret personal details. Any phishing mails received soliciting the same should be reported as spam.

Keep personal details safe by storing them in secure places. Never leave important documentation around and always make sure to completely shred and dispose of anything with such information that you no longer need.

Hacking sites is a common affair these days. Hackers are able to recreate, quite closely, bank sites and have found means of directing traffic there. Always make sure that you have a secure Internet connection before you log on to websites. Securing your Wi-Fi network will ensure no one can access it and see your history. All URLs or website addresses should be accurate; this means that they will have to start with http:///www.bankname.com

Many times, people receive strange looking mails from folks who may be familiar to them asking for monetary help from distant countries. These are phishing mails, and they mean that your friends' IDs have been hacked and used for such dubious messaging.

It is important to invest in a quality malware and anti-virus system for your computer. These are constantly updated to deal with newer threats in the cyber world and are a must on every system.

Choose passwords that will sound convoluted to others but make perfect sense to you. At the end of the financial year, have your credit rating evaluated and check for any finance loopholes. These are some of the ways in which consumers of all ages can protect themselves from identity theft.

Author BioJoshua Turner is a writer who creates informative articles in relation to business. In this article, he offers advice against identity theft and aims to encourage further study through a Norwich Online Masters in Information Assurance. 

Managing Your Family's Finances

Money management is a skill that is best learned when a person is young. This does not mean it is too late to begin applying these skills. Even if you are over 50, the finance system you begin today can make a difference.

Finance Your Family's Security With Life Insurance 

While every adult should have life insurance, it is essential when you are older. If you do not have a suitable life insurance policy, now is the time to make a purchase. 

There are a number of policies from which to choose. While term insurance will benefit your family in the event of your death, a whole life policy offers additional benefits. If you find yourself short of cash in an emergency, or wish to contribute to a family member's college fund, whole life policies build up a cash reserve. You can borrow against the policy if it becomes necessary; yet not lose your coverage. 

Finance Your Security With A Savings Account 

When you are still working and have a steady income, open a savings account. Choose an account that offers a high rate of interest. Higher interest means more money accumulating in your account. 

If a savings account is to be useful, deposits must be made regularly. One method is to decide how much of each paycheck you plan to devote to savings. Each time you are paid, deposit that amount in your savings account before spending any other part of your check. 

A second method is to have savings automatically transferred into your account. You can finance your account without any effort if you choose this method. 

Choose the method you are comfortable with, and your savings will grow. 

Your Income Should Finance Your Retirement 

There are numerous options for funding your retirement. A sensible approach is to discuss your preferences with your spouse and your banker, and choose the option that works best for you. 

One popular option is a CD. There are various forms of CDs. A certificate of deposit requires a minimum principal. If you do not cash your CD before it matures, you will have the accrued interest in addition to the principal.

The interest rate for certificates of deposit are based on nine month, twelve month, or eighteen month terms. When you choose a longer term CD, the interest rate will be higher. It is an excellent way to finance your retirement. 

Finance Your Future With Sensible Money Management 

You do not want to enter your golden years with debt. One way to avoid debt is to use credit wisely and sparingly. You should not use credit to finance goods and services that you cannot otherwise afford. 

If you must make purchases on credit, always pay the bills in full, and on time. You should also take this approach to bills that do not involve credit. From utility bills to car payments, pay everything on time. This will eliminate late fees and other unnecessary problems. 

Help Your Family Members Manage Their Finances, Too 

Many older people often find themselves in the position of being asked for financial help from family members. While it is fine to assist your children or grandchildren when they have a special need, everyone can benefit if you help them learn how to be responsible with money. 

Whether you make cash a gift or a loan to younger family members, let them know you are not a bank. You cannot take away your own financial security for individuals who are irresponsible. Instead, you can encourage them to learn effective money management skills. Both your future and theirs can be financially secure.

Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he offer family finances tips and aims to encourage further study with a GARD Master’s Project Management Online.

Do You Have a Learning Management System(LMS) for your Business

Finding business training solutions for your employees can be difficult to do. Do you provide the content in house or you go for cloud based services. There are pros and cons to both solutions. If you have in house programs you need to provide staff, infrastructure, maintenance, and connectivity. It can be a major expense. An alternative would be to put all this into the cloud and let an expert service provide the service.

If managing your learning management system has become to much hassle and expensive, maybe it's is time to look for a cloud based solution where all the managing and problems are handled for you. In the cloud you will only have to provide the content.

A good eLearning solution has to be able to help you reach your goals. These goals may include continuing education, eLearning availability, synchronous or asynchronous learning, mobile learning, certification programs, or even eCommerce.

One such solution is TOPYX social LMS, it is a learning solution for companies, academic departments, associations, municipalities and eCommerce needs of any size, anywhere in the world.

Features

TOPYX social LMS gives you a tool that will provide all your eLearning needs. It's easy to setup and brand with your companies logos and designs. Set-up and LMS features can be created with only a few clicks.

• Easy to use and manage
• Award winning social learning
• Customer service team ready to help
• Single sign on,API and more
• Online learning paths and certifications
• Mobile learning
• Language localizations

What Makes TOPYX so popular with business?

TOPYX social LMS is SCORM certified and it can handle all your document, audio, and video needs. Integral in this platform are the social aspects. They make the platform easy for users. Included are blogs, chat, profiles, events, calendaring and more. Multi language accessibility, performance monitoring, permissions are easily assigned.

Try it First

I know moving into any new service can be daunting. You worry if you are spending your dollars responsibly. With the TOPYX social LMS you can try a learning management demo. You can try it on for size and see if it is the right fit for your company. When you and your staff see how the system works, you will be able to decide.

Simple Tips to Make Your Money Stretch Further

There’s maybe nothing worse than the horrible realisation that there is no money left in the bank and no way to pay the mortgage or rent on time as usual. Sadly, many people are struggling to cope financially nowadays. If you are finding money stress is causing your hair to drop out in chunks it’s time to take a new approach. It’s a skill to make money go further but here are some of the excellent tips from the financial experts to help you ensure every penny is well spent.

Click here to find out if you’re entitled to more money

You Must Budget

Do you have a budget for all the money that comes in and out of your house? Do you check where you have spent your last wages, reconcile your bank account and check your receipts? If not it’s about time you did. A budget is a valuable tool that should be used so you are fully aware of your current financial position in any given month. It’s boring but when you budget you will be able to see where money has been wasted, where you can make cuts and where you need to deal with urgent problems.

Loyalty Cards are Worth it

How many times have you found yourself being served at a till and the cashier asks you if you have a loyalty card? The next time it happens ask if you can have a form to apply for one. All those trips to various supermarkets can help you raise useful sums of money and earn coupons that will save you cash. Collect all of the cards for all the shops you go to and keep them in your wallet. A free fiver off here and there will add up.

Make Packed Lunches

Packed lunches are much cheaper than buying food on the go. It takes just a few extra minutes in the morning or before bed to make them up so it’s not like you don’t have time to do it. Make your own lunch and stop popping to the canteen or bakery for lunch. It’s not only a lot cheaper it’s often a great way of stopping yourself eating sugary snacks and fatty foods.

Shop for Bargains

Bargain Hunt isn’t only a great antiques programme on television; it’s also a savvy way to shop. When you’re in the shops you need to look for products that have been marked down. When you shop online head straight for the sales and clearances too, it’s amazing what bargains are out there ready to be snapped up. You also need to hunt around for the cheapest petrol prices, special offers and change your suppliers for cheaper tariffs.

See if You Can Earn More Money

If you’re really struggling, the only option is to try and bring more money into the home. Look for a second job or try and raise some funds through your hobby. If you are on a low income you may also be entitled to some extra help, click here for some useful phone numbers to learn about benefits that you might be entitled to.

5 Tips For Trading Stock Options

You're ready for the exciting world of stock options, but you need some strategies to check out. Thankfully, the Internet is full of advice from traders. Unfortunately, not all of that advice is sound. Some traders are merely mimicking what they've seen other traders do. 
Others are newbies themselves. Still others are offering advice while secretly trying to sell you their proprietary software. While trading in stock options is an advanced strategy, you don't have to over-complicate things. Find yourself a good broker using a site like BrokerStance. Then, start with some basic strategies. 

The Covered Call

A covered call is a basic options strategy. Also called a "buy-write strategy," you purchase the underlying assets outright. Then, you simultaneously write or sell an option on those same assets. So, for example, if you wanted to buy 1,000 shares of General Electric, you would also write the option on GE. The volume of assets (the number of shares) should be equal to the number of shares controlled by the option. 

So, continuing the example, if you had purchased 1,000 shares of GE, you would also want to make sure the option allowed you to sell 1,000 shares of GE. Investors often use this strategy when they have a short-term position and a neutral view of the stock they're buying. You would use this strategy to generate income from the call premium (from writing the option). You would also use this strategy to protect yourself from a potential decline in the underlying stock's asset value. 

Since investors always make money with this strategy, they're attracted to it. However, it is possible to under perform the underlying stock, making it a less profitable strategy than, say, investing directly in the stock and forgetting the option contract. 

The Married Pull

A married pull is where an investor buys or owns a particular stock, and then simultaneously buys a put option for an equivalent number of shares in that stock. Typically, this strategy is used when you believe the underlying stock will decline in value and you want to protect yourself from short-term losses. It basically creates a sort of insurance policy against losses by establishing a "floor" on losses. 

This is a more conservative strategy and depends on you being bearish on the underlying asset. You are taking a defensive stance in your portfolio. The goal isn't necessarily to make money but to avoid losses. 

A Protective Collar

A protective collar strategy is used when you've already made a lot of money and you want to preserve your gains. To pull this off, you need to purchase out-of-the-money put options on the underlying asset and write an out-of-the-money call option at the same time. The effect? Even if your shares decline in price, the put options protect you and you get to keep the gains you've earned. 

Like the married pull, this is a more defensive strategy. You've already done the hard work of figuring out which stocks to buy, and you've made money. You just want to keep from losing it if the stock turns sour quickly. It buys you some time to get out of the asset if execution is slow (i.e. if the stock is thinly traded) or if you think there's new news about the company that will cause an immediate, short-term, reversal on the price. 

A Long Straddle

The long straddle is used when you want the potential for unlimited gains but want to limit your losses to the cost of the options contracts. To implement this strategy, you must purchase a call and a put option with the same strike price. The option is on the same underlying asset. So, in effect, you are "straddling" both sides of the stock. You have the right to both buy and sell that underlying asset. This strategy works best when you think the underlying asset is volatile and will move, but you're not sure which way it will move. 

A Long Strangle

By adopting a long strangle (as opposed to a long straddle), you are essentially trying to do the same thing as with the straddle, but you're buying the options contracts at different strike prices and you're also buying them out-of-the-money (meaning that they're not immediately profitable when you buy them). 

The call option strike price is typically higher than the put option strike price. Use this strategy when you think the underlying stock will make a huge move, but you're unsure of which way it will move. Like the straddle, losses are limited to the cost of the contracts. The upside potential is unlimited. 

Jarryd Harden enjoys sharing his know how on trading stock options. His articles mainly appear on investment blogs.

Understanding Annuities: Fixed Annuities vs. Variable Annuities

With annuities, it's important to know what you're getting into. This is a huge decision that'll determine how much and how often you get paid during your retirement years. Should you go with a fixed annuity or a variable annuity? Let's take a look at some of the differences between fixed annuities and variable annuities, and you can decide which one sounds more along the lines of what you're looking to do with your money.

What Are They?

First things first, let's define them. A fixed annuity is a contract offered by an insurance company. You deposit money and the insurer agrees to pay a certain interest rate over a specified period of time. A variable annuity is an insurance contract that, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The rest of the income payments can vary depending on the performance of the managed portfolio.

Essentially, variable accounts are similar to mutual funds. You can invest in one or more accounts, and those accounts can own stocks, bonds, or a combination of both. Variable annuities have more fees than mutual funds, though, which leads to them having a higher annual operating expense than mutual funds.

The Tax Differences

One important difference between fixed annuities and variable annuities is the way that they're taxed. With both fixed and variable annuities, any earnings remain untaxed as long as they within their annuity. However, if they're withdrawn, the earnings are taxed like normal income. If you draw before the age of 59, you'll pay a 10 percent penalty.

The earnings in your variable annuity are taxed at ordinary income rates instead of long-term capital gains rates. This essentially converts all long-term capital gains to ordinary income, which is a definite disadvantage for variable annuities because it boosts the share of your gains that go to the government. If you pull your money out within the first seven to 10 years, you'll have to pay an early withdrawal penalty. You may need to calculate different types of annuities to see which one works best for you.

The Safety Difference

A fixed annuity offers more security than a variable annuity, but the upside potential is very limited. With variable annuities, you accept more short-term volatility because the value of your investment will fluctuate with the value of the stock and bond markets. You're essentially looking at risk versus return.

With a variable annuity, if the market goes up, you're golden; if it goes down, you lose money. Fixed annuities are also based on the market, but they don't directly participate in it. The interest is paid out at certain intervals based on how well a specific measure of the market is performing.

Rather than just offering a guarantee, variable annuities provide the opportunity for growth. Your return will depend entirely on how well the investment you select does, and may be greater or less than that of a fixed annuity. If you die before you begin receiving annuity payments, your heirs will receive at least as much as the total of your premium payments.

The Hidden Costs

Fixed annuities don't usually have hidden fees. If they do have a fee, it'll be an annual policy fee, which could run $25 to $50 annually, which can be waived if your investment meets a minimum specified amount. Variable annuities, however, have a ton of hidden fees and charges. They have mortality and expense risk charges, administrative fees, sales and surrender charges, and charges for optional benefits and riders.

It basically comes down to risk tolerance and how much control you want over the investment decisions. Fixed annuities have very little risk, but there's no growth potential. Variable annuities provide a much greater potential for growth, but there's a huge risk involved. Your investment decisions can impact the growth of the annuity. There's a lot of management involved with a variable annuity as well.

For a steady stream of income after retirement, a fixed annuity is the way to go. With little risk and a guaranteed minimum return, you know exactly how much you're getting. Variable returns are much riskier and nothing is really guaranteed; you shouldn't rely on variable annuities as a source of income. Sure, your investment could pay off big time, but you could be left without a retirement fund. If you've got the extra money, a variable annuity might be a fun venture, but otherwise, a fixed annuity seems like a much safer option.

Have an annuity tips from first-hand experience? Leave a comment below.