Robo-investment - Complete Controller

A robo-advisor is a viable option for someone who does not want to employ a financial advisor, does not have enough resources to contract a financial advisor, or has previously invested without an advisor.  Robo-advisors can automatically choose investments and construct an expanded portfolio for you. When your assets are contributed, the robo-advisor adjusts your portfolio back to an objective assignment. Some robo-advisors even make exchanges to help diminish your expense charge through a procedure called Charge Misfortune Gathering. Check out America's Best Bookkeepers

Fees

With a robo-advisor, you pay an administration fee and the cost of the investment. These fees might be a fixed month-to-month expense or as a level of benefits. The monthly fee is typically $15-$200 and is based upon portfolio estimate. With a level of benefits structure, fees are calculated based on .15% to half of your record measure every year. For example, if you have a portfolio valued at $100,000.00, a half charge would compare to $500 every year.

You will also be responsible for any costs related to the investments selected by the robo-advisor. For instance, shared assets and trade exchanged assets have cost proportions. That charge is removed from the reserve before any profits are designated to financial specialists.

Many online robo-advisors offer a free trial, so you can understand how it functions before you are charged for the service.

Advantages

One advantage of using a robo-advisor is to maintain a strategic distance from costly investment missteps. Reportedly, one of the main reasons financial specialists yield poor results is because of their conduct. Investors can make passionate choices during market highs and lows and even depend on hunches. Computer programming does not commit these sorts of errors. Check out America's Best Bookkeepers

Another advantage of a robo-advisor is diminished pressure. When you grant portfolio access to the robo-advisor, the program automates the entire investment process. You do not need to worry about what changes you should make changes to your portfolio or wonder if you should invest more in innovation or less in financials. You do not need to sign in to your account and place exchanges. You do not need to be concerned that an agent is making an investment that will be too costly.

Capabilities

Robo-advisors can be a sound option for new investors, youthful investors who need an automated portfolio, and investors who have broad investing knowledge but lack deeper market understanding.

However, investors who have significant investment opportunities, who need to organize advantage bundles and 401(k)s with different portfolios, or who prefer to be involved in contributing may find that a robo-advisor is not an ideal option.

Investments

Most robo-advisors use shared assets or trade exchanged assets to develop the portfolio, not singular stocks. Advisors commonly pursue a record reserve or inactive venture approach dependent on current portfolio proposition research. This examination says the most significant factor is your assignment to stocks or bonds. Then, you can focus on basic stock resource classes, including expansive top, little top, or universal or basic bond resource classes like short, middle-of-the-road, or long-haul.

Taxes

If you have an Individual Retirement Arrangement (IRA), Roth IRA, or another kind of retirement account, do not be concerned about investment outcomes with a robotized process. With these retirement accounts, you do not have a regulatory expense until the day you make a withdrawal. Rollovers or moving your portfolio to a robo-advisor are not considered a withdrawal.

If you have investments that are not part of a retirement account, you will receive a 1099 every year that reports the intrigue, profits, and capital additions. Report those on your expense form and pay taxes due on those investments. Check out America's Best Bookkeepers

Robo-accounts are commonly financed with money. If they allow you to move in existing investments, those ventures will likely be sold unless used in the robo-model portfolio. If these investments are not inside retirement accounts when they are sold, any capital gains taxes will be calculated. Similarly, this may result in a larger-than-normal tax bill within the year that you transfer to the robo-advisor.

Additional Information

A robo-advisor is certifiably not a money-related organizer. Some robo-advisors have additional programming that can enable you to determine how your records will develop.  However, you do not get customized counsel regarding the amount to invest, regardless of whether to utilize a Roth IRA or Traditional IRA, how to distribute interests in different records like your 401(k), and so on.

Some robo-advisors offer live help for an additional fee, while others collaborate with you solely through the internet. If you like individual attention and a voice to talk to, then a robo-advisor is presumably not an ideal option for you.

Additionally, when you are close to retirement, the designation models utilized in the robo-advisor instruments may not allow you to adjust your investments for the withdrawal stage. By then, you might need the assistance of an expert retirement advisor.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Successful Restaurant - Complete Controller

The restaurant business is one of the diciest businesses to go into by choice. Entrepreneurs who decide to open a restaurant generally choose to do so because they desire, if not because they are bold risk-taker.

While owning and running a restaurant is risky even for those who have a zeal for it, it can have a rewarding business for years into the future if profitable. To succeed, you need to focus on seven areas for your restaurant to be a success. Check out America's Best Bookkeepers

Customers

The most obvious thing to do is to gain customers and produce more sales. Your marketing strategies should be customer-focused. Most important is the use of social media and technology. Promote offers and let people have a look inside the restaurant through social media.

Create brand awareness and increase the use of engaging and quality content. Provide people with discount coupons and offer take-out and delivery options. If your restaurant has a unique dish or something that makes you stand out from other restaurants, make sure to feature these highlights on your website and social media prominently.

Upselling

Encourage people to spend more by asking them about the options available. You can recommend appetizers or specialty drinks during the initial ordering stage while they wait for the main course. You can also offer dessert as you drop off the ticket for payment, advising you can easily add to the ticket.

Suggest a top seller while you’re at it, and always let customers know your favorites when pushing additions. The point is to try to get people to order more by asking. If the restaurant is complete, each table ordering something more expensive or extra can take the sales to a whole new level. Train the staff on how to persuade through the tone and knowledge while keeping it soft to alienate the customer. Check out America's Best Bookkeepers

Provide an Appealing Atmosphere

Restaurants must provide a visually beautiful environment and maintain hygienic standards. The tables should be cleaned as soon as the customers leave. Bills should be collected promptly to encourage table turnover. It is also essential that the staff is well dressed and clean, keep extra uniforms and aprons on hand for unexpected wardrobe issues such as spills or damage.

Properly Train Your Employees

Restaurant employees reflect everything about the restaurant itself. Restaurant staff should be well dressed as well as well-mannered and professional. Make sure whatever the customer says, the staff behaves appropriately.

Your staff is dealing with customers in real-time and face to face, so if one bad thing happens, word of mouth can spread like wildfire. This could be a potentially devastating problem with smartphone innovations having the ability to film or give the users the instant capability to go online and spread the word. Check out America's Best Bookkeepers

Create Repeat Business

The biggest key to success for every business is retaining the customers it has.  Restaurants need to make a good impression on customers to keep them coming back. Make sure the order delivered is accurate and make the customers feel at home.

To attract customers dining in, provide them with exclusive discount coupons or free delivery on the first order. Always greet every customer with a warm, friendly smile and provide timely delivery.  Retaining customers can increase sales by 25-125%, according to a Harvard study.

Social Media

Marketing on social media can take your sales to higher places with little to no cost. Utilize social media to highlight the restaurants’ menu and atmosphere. Have a review button and encourage customers to leave a review to let people know what others say. These reviews can help others try your restaurant when looking for dining options in your area.

Technology

Technology is vital to every business; restaurants are included.  Studies suggest that people feel more satisfied and more comfortable using the app or online because apps and online purchasing increase the order’s convenience and accuracy. 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Vehicle Maintenance - Complete Controller

Your vehicle is a long-term purchase, and buying a vehicle is perhaps one of the highest expenses you will incur. Vehicle owners are often inexperienced when it comes to basic automotive repairs and maintenance.

A proactive approach is best to ensure you get the most out of your purchase. This approach includes carrying out preventative, scheduled, and regular maintenance recommended by your mechanic and the vehicle manufacturer.

Whereas vehicle repairs are sometimes inevitable, often regular maintenance and checks help prevent expensive repairs in the future, saving you money. At the same time, ensuring your vehicle is in good working condition can have other long-term advantages. Check out America's Best Bookkeepers

A poorly maintained vehicle won’t just damage your wallet. It could cause an accident with devastating consequences. Therefore, the importance of vehicle maintenance is high. Here are eight preventative maintenance for your vehicle that is important.

Improving Gas Mileage

Visiting your local mechanic for regular upkeep will help improve your vehicle’s mileage. Neglecting to replace your vehicle’s oil or air filter will adversely influence your vehicle’s gas mileage.

It’s suggested you have a regular timetable oil change changes every 3,000 miles. It’s likewise significant that you get complete suspension maintenance every 15,000 miles to help keep your vehicle’s ideal gas mileage.

Saving Money

It is far less expensive replacing your crankshaft belt every 50,000 miles contrasted with revamping your motor because of a snapped belt. Consistently reviewing and cleaning your battery each time you have an oil change will likewise go far, saving you from the threat of getting abandoned because of a dead battery. An inadequately kept-up vehicle is inclined to cause exorbitant mishaps and represent a danger to you and other street clients. Check out America's Best Bookkeepers

Prevent Damage

Numerous actual vehicle issues influencing your motor and transmission are preventable with routinely booked maintenance. Check your producer’s proprietor’s manual or visit an expert auto mechanics shop to discover what preventive maintenance your vehicle requires and how regularly they should be performed. Essential maintenance, for example, oil change and fluid levels, will expand the life of your vehicle.

Regular Oil Change

The top maintenance service any vehicle gets directly from the producer is an oil change. This assistance is done the second your new vehicle tickers around 500 miles. It is throughout this break-in period that few parts of the motor start to meet up.

Over the long haul, tiny bits of metal sever and blend in with the motor oil. Getting an oil change will help flush out the trash, keep your motor solid, and work at ideal execution. Customary oil maintenance is required every 3,000 miles.

Transmission Checkup

Your transmission is maybe the costliest segment of your vehicle with regards to fixes. Without your transmission, your motor wouldn’t have the option to change the force it produces to the wheels to get the vehicle going. Hence, it’s essential to plan standard checks to keep away from transmission-related issues, including having a liquid flush as required. Check out America's Best Bookkeepers

Belt Change

Your vehicle utilizes a few belts to run appropriately, including the fan belt, crankshaft belt, drive belt, and force guiding belt. After general use, these belts start to wear off, and if disregarded, they could snap and cause catastrophic harm to your motor. Check your manufacturer’s manual or visit your neighborhood mechanic to check your belts.

Tire and Brake Inspection

Most highway mishaps are because of broken brakes. It shows how powerful great working brakes are to your vehicle and security. A general guideline is to check your brakes and suspension framework each time you play out an oil change.

Your brakes will not work if you have destroyed tires, it will likewise be challenging to control your vehicle when conditions get wet, and the streets get elusive. To ensure that your tires last more, plan a tire turn every 3,000 miles to help even mileage impacts.

Battery Maintenance

Without a battery, your vehicle thing has not been able to start and crank. Generally, battery life is from two years to many years. Many batteries carry a lifetime warranty, so they should be checked with every oil change.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Invest in Agriculture - Complete Controller

Investing in agriculture can be lucrative for every investor looking to invest in long-term payoff outside the stock market or real estate business. The demand for food and other farmed commodities will always be present and increasing.

Investing in agriculture is a good move for savvy investors who want steady returns. It is also an excellent investment for those who want to diversify their portfolios. It has been estimated by the year 2050, economic and population growth will result in the highest demand for food and commodities in history. Check out America's Best Bookkeepers

Also, in the last 20 years, there has been more interest in organic foods without modifications which has added extra demand for free of pesticides and is not genetically modified. This type of demand is expected to continue to grow in the next thirty years, as well.

How can you invest in agriculture?

There are numerous ways through which you can invest in agriculture. You can invest directly into an agriculturally based business or mutual funds related to agricultural companies. You can invest in farmland yet to be developed with future development possibilities. Also, you can invest in commodities traded on the stock market.

You can buy or sell futures for crops such as rice, wheat, sugar, and soybeans using Exchange Trade Funds (ETFs), which are traded like stocks. ETFs follow a product’s value making this type of investment easy and profitable.

Commodity investments are risky and affected by innumerable variables such as severe flooding, droughts, or other random acts of nature. These disasters could result in seasonal losses. However, in most cases, these setbacks are overcome and result in high and steady returns.

Purchasing stocks in farming supply or food production companies, or agricultural mutual funds offer a more traditional agriculture route. Although the potential profits and values will correlate with the overall industry trends, this type of investing will generally have great returns. Check out America's Best Bookkeepers

Investing in Agriculture is Good for All Generations

Millenials

Investing in real estate or the stock markets is the most common investment option for newer investors. However, both markets have endured significant volatility and are considered over-hyped by numerous investment experts.

Hence, Millennials need to consider other investment options. Investing in agriculture, especially in harvest-yielding farmland, allows them to hold a complex resource or asset, which will give them great returns well into the future.

Generation X

Generation X is moving toward retirement, and many have likely been investing for years. Because of this experience, the Generation X investor is moving towards less risky and safer investments. While the agriculture business does carry some risks, it is considered a safer investment because food and commodities will never be obsolete. Because of the years of foreseeable demand, agricultural investments are perfect for Generation X investors.

Baby Boomers

Baby boomers are currently retiring at the rate of around 10,000 per day in the United States. Many don’t have enough saved for their retirement because of a lack of preparations and the stock market fail of 2008 and 2009. They are searching for safe investments that could produce consistent annual returns to top up current pensions. Check out America's Best Bookkeepers

While different agriculture investments take approx. 5 to 20 years before producing returns, there are agricultural investments with returns within two years of investment. This quicker turnaround on investment makes some agricultural investments perfect for the Baby Boomer.

Conclusion

Based on several variables and analysis, it is clear that investing in agriculture is far less risky than real estate or the stock market. The reason for lower risk is that food and commodities will never be obsolete, and as the population and economy grow, so does the demand for both.

You can wholly invest in agriculture or use it to diversify your portfolio. However, investing in agriculture is a good idea for every severe investor, no matter their experience or age. Whether you are looking to invest in your future retirement or fund your current lifestyle, agricultural investments will provide a reasonably safe and steady return on investment.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Auto Repairs - Complete Controller

Auto Maintenance and repair can be an expensive endeavor. Most people find it challenging to find a good and honest mechanic. Many mechanics will make up repairs that don’t need to be done to make more money from the transaction. Those mechanics that do this count on the fact that most people don’t know much about cars. Here is everything you need to know about auto repairs.

Find a Licensed Shop

All automotive shops should hold an automotive repair license. Most people will do an internet search to find a shop. However, before taking your car to the location, you should do some research. Once you arrive at the shop, you should ensure that the state-issued license is clearly displayed. Check out America's Best Bookkeepers

Having an automotive repair license does not guarantee the work. However, an unlicensed repair shop will be more likely to be shady in the transaction.  

How to Find a Good Auto Repair Shop:

  • Take recommendations from family and friends and others whom you trust.
  • Search for a repair shop before your car needs repairs, so you are not rushed.
  • Shop around online for the ideal auto repair shop using their website and reviews.
  • Check with the Better Business Bureau to ensure the shop is in good standing.
  • Ensure the shop will honor your car’s warranty if you still have one.
  • Ensure all technicians employed at the shop are licensed and have a good reputation.

Understand Repairs and Charges

Before agreeing to any repairs, you should know upfront what the auto repair shop charges for labor per hour. Once the technician identifies the issue(s), they will give you an estimate of the repairs. Do not agree to the repairs and costs until you research the repair yourself.

The number of hours a repair takes is not literal hours. There is a standardized manual put out by manufacturers that lists the flag hours each type of repair will take. If the mechanic takes longer or finishes sooner, the number of hours charged will be the number of flag hours determined for that repair. Check out America's Best Bookkeepers

To ensure you are not charged more than you should be, ask the technician to tell you the repair name, look up the flag hours with the manufacturer, or ask the tech to show you the flag hours. You can also look up the general costs of parts so you can ensure the estimates are accurate.

Always ensure you get the estimate in writing once you accept the repairs and estimate. Also, ensure that no other work will be done before you approve it, so there are no surprise repairs or costs when you pay and pick up the vehicle.

Get a Second Opinion

If you are getting reasonably standard repairs, you may not need to get a second opinion. However, if an unfamiliar shop or technician recommends costly repairs or brings up unexpected repairs, you should get another shop and technician to look at your vehicle before you agree to any repairs.

It is in your best interest not to advise the second mechanic of the repairs suggested by the first to ensure there is honest concurrence. Once you have two independent technicians agree about the repairs, you can proceed to have the work done with a signed and written estimate for the work. Check out America's Best Bookkeepers

After the Work is Complete

Obtain a finalized repair order explaining the work done. It must list every repair done and partly provided, the final cost of every repair and part, the vehicle’s odometer reading, and labor charges.

Protecting Your Auto Repair Investment

Warranties

There is no standard warranty for repairs. However, you should enquire about part warranties and labor guarantees before agreeing to the repairs. Ensure that all guarantees and warranties are in writing. Understand the warranty restrictions, including mileage, time, deductibles, or any other restrictions the auto repair shop has if their work or the part fails.

Heading Off Problems

The more knowledge you have about your vehicle, the more likely you will head off the repair issues. Take your car in for regular preventative maintenance and drive your car carefully. Be aware of any changes in the vehicle’s drivability and take your car for diagnostics if you hear, smell, or sense an issue. Many issues will be less costly if caught early.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Bank Commission - Complete Controller

When someone asks how a bank makes money, the response is: by granting loans and investing in securities.  While that is true, many people do not know that the biggest source of profit for banking entities is commissions. It can be said that banks and savings banks charge commissions for absolutely everything.

Commissions are established by each entity, so consulting the Bank of Spain will ensure that a series of requirements are met and comply with the law.  These requirements must be necessary and respond to a service provided.  They cannot be satisfied by another product contracted by the client, must be communicated to the clients, published, and given to associates within the bank.  The requirements cannot be abusive, and clients cannot be charged for transactions made due to failures or negligence of the entity.  Fees cannot be charged if they do not appear in the contracts and cannot exceed certain limits, for example, 1% in the cancellation of a variable mortgage. Check out America's Best Bookkeepers

Applicable bank commissions

The fees normally applied regarding a money transfer, keeping accounts, withdrawing money from Automated Teller Machines (ATMs), having cards, studying and/or create a loan, canceling a loan, and having an overdraft account.

It is difficult to avoid fees, so the only thing we can do is compare different entities and look for the lowest commissions.  Although, in theory, the fees must have a degree of flexibility, consumers often do not find themselves in a strong position to negotiate them with the bank.  For example, if you need a loan and Bank X grants it to you, then you may not feel able to demand that one fee be reduced or entirely removed. In Spain, it seems that clients tend to be tolerant and not combative when accepting the fees imposed. Check out America's Best Bookkeepers

Average annual expense

According to a study by Consumer magazine, the annual commissions can cost a person between $40 and $210.  This can quickly add up when considering most individuals have a checking account, a credit card, and a debit card and make an average of six transfers.

Additionally, when you complete the credit card application process, you must often pay the relevant opening fees without considering mounting debt in addition to paying any partial or total early cancellation fee. Similarly, if there is a bank that lends money at a lower rate or with less initial fees, it seems inevitable that adding a mortgage later will cost even more in relevant fees.

Entities that do not charge bank fees

Lately, the media has made many announcements regarding banking entities that claim not to charge commissions. Check out America's Best Bookkeepers While this seems like a dream come true, it only seems to reason that any fees or annual commission will be incurred if the fine print of Terms & Conditions is thoroughly read. For example, several commissions, including Account Maintenance, are not charged to creditworthy clients or shareholders but are charged to individuals with lower credit scores.  Similarly, an Account Maintenance fee might be waived, but other fees regarding mortgages may still be charged.

Other banks may not charge a wide range of fees, so you open more accounts with them.  When you trust them with your payroll, insurance, mortgages, accounts, cards, and pension plan, they earn more from your accounts than charging small fees.

In addition to lending and investing in securities, banks and other financial institutions rely on commissions and fees as a main source of profit.  These institutions are not going to eliminate fees but can reduce or waive non-financial commissions, including account maintenance, account transfers, and card issuance and renewal. Take time to research fees between institutions and select accounts and credit cards that meet your needs but are not costly.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Reserve Mortgage - Complete Controller

What is Reverse Mortgage?

The elderly population may find it difficult to obtain a loan from the bank. The bank thoroughly examines the financing and loan repayment objectives before placing requirements on the borrower to obtain collateral for repayment of the loan. These conditions do not make it easy for the elderly to receive a loan or mortgage from the bank.  Fortunately, there is a solution to this problem in the form of a reverse mortgage.

A reverse mortgage allows someone to obtain a loan from the bank at a value that is no more than half the value of the property. This loan is typically for the individual who lives in the property in his possession and when this property does not have a mortgage. Check out America's Best Bookkeepers

In a regular mortgage each month, the shareholders’ equity decreases, and the value of the asset rises. However, a reverse mortgage, as one can understand from its name, works backward. In a reverse mortgage, you can make the property cash value, and there is no need for monthly loan repayments. The loan can be obtained in three ways:

  • As a credit line account, as required
  • As a fixed monthly amount
  • As a single lump-sum payment

As noted, unlike a regular mortgage, a reverse mortgage borrower is not required to pay the bank monthly payments for the repayment of the loan. This is because the bank guarantees the return of the loan by the property itself and makes sure to record a warning note in favor of the bank in the property records. The loan and interest are ultimately paid when the property is sold, either because the borrower sold the house or he passed away. Check out America's Best Bookkeepers

When a property owner dies, his successors are the ones who need to repay the loan and interest within a period of one year from the date of death.

Heirs can repay the loan from their own money or from the money they will receive from the sale of the inherited property. If the heirs do not want or cannot repay the loan money, the bank can sell the property to repay the loan, and the balance of the money will transfer to the heirs.

Reverse mortgage advantages

A reverse mortgage allows people over 61 to make their home cash, especially those who live in a property that is valuable but have difficulty financing the current expenses of the house.

Older people who are no longer paid monthly, or adults who do not have life insurance that can guarantee repayment of a loan, will find it difficult to take out a traditional mortgage loan. For these individuals, the reverse mortgage money can be used to finance medical costs and treatments. Check out America's Best Bookkeepers

Lines of reverse mortgage image

A reverse mortgage is a special loan intended for people aged 60 and over. Its main purpose is to pledge the residential property for a percentage of it in cash, with the repayment being made by the heirs of the asset upon the death of the borrower. The loan is in considerable amounts relative to the value of the property, usually from 15% at the age of 60 to 50% at the age of 90. The financial conditions of the mortgage are convenient and suitable for the needs of the elderly and those who want a high quality of life in later years.

The loan amount is taken in cash while providing the home as collateral, with the maximum loan amount determined by the age of the recipients of the mortgage and the value of the asset. The principle here is that loan recipients are not required to make monthly repayments, with repayment possible up to a year from the time of death. It is important to emphasize that the residential property remains owned by the lessee at all times, although in coordination with the company that gives the loan, they can sell it. The loan bears fixed interest linked to the consumer price index.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Savings - Complete Controller

An important benefit of saving money regularly is that it allows you to achieve a goal, whether it is short, medium, or long term. Additionally, another benefit of saving is the creation of an emergency fund. In the United States, only 39% of adults that save use their savings to face emergencies or unforeseen events.

Better-safe-than-sorry saving

No one is immune from accidents or incidents; however, we can all be prepared to face these events with the help of our savings.  Otherwise, the event and its consequences can be very costly. Check out America's Best Bookkeepers

For example, a person without savings has an accident, an illness, loss of employment, or material damage to their property. To cope with this situation, he would have to get money from a friend or family member or take out a personal loan.  Ironically, not having savings for emergencies reduces his chances of borrowing money since a family member or an entity would charge interest.  He would then be forced to use his credit card irresponsibly and become over-indebted.

Consider saving within your budget

It is important to consider including an amount to save each month when you create your budget. This amount may vary, but it is recommended that it correspond to your savings goals. If you are saving to purchase an item, consider saving an amount large enough to include that purchase and increase your emergency fund. Check out America's Best Bookkeepers

Saving for unforeseen events

Just as the emergency fund is important, it is also important to supplement and obtain insurance, including life insurance, major medical expenses, car insurance, and liability insurance. For example, if you get into a car accident and have car insurance, you can pay the deductible and avoid incurring unnecessary debt.

Use the Savings Simulator

With a Savings Simulator, you can understand saving and investment options in the market, tips to apply before opening an account, and the main rights you have as a saver.  Similarly, the Savings Simulator allows you to make a personal savings program considering an initial investment and periodic additional contributions within the pre-established time.

Keep your money safe

Saving seems easy but takes time and effort.  Avoid informal savings plans like pyramid schemes or keeping your savings under your mattress, as both options put your financial health and family at risk.

Informal savings include:

  • Savings at home and the use of batches are the two mechanisms most used by informal savers (28% and 14%, respectively).
  • 44% (31 million) of the adult population saves in the informal market.
  • 29% of women use the savings at home and 16% the batches in greater proportion than men, while 10% of them use the loan to a large extent among individuals. Check out America's Best Bookkeepers
  • Informal savings are used for the same uses as formal savings; however, for the informal, personal expenses occupy the first place (38%), followed by emergencies or incidentals (27%) and education or health (23%).
  • Household savings is the only mechanism of informal savings that is greater in the smaller localities (31%) than in those with 15 thousand inhabitants and more (27%).
  • The use of informal savings to increase family assets, such as investing in a house or business, is relatively small (14% and 4%, respectively).
  • Regarding formal savings, 36% (25 million) adults claim to have at least one product.

The problem of informal savings is that it includes risks.  For example, in a round, the who organizes it can keep the money and not distribute it.  Similarly, if you keep your money at home, someone can enter and steal it, or you could lose it in a fire or flood.

Is it possible to save?

If you save a dollar a day, your savings becomes $30 in a month and $365 in a year. Similarly, if you save $10 a day, you will have $300 per month and $3,650 per year. Take advantage of the different options banks offer, so you can choose the one that best suits your needs and saving goals.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Car Savings - Complete Controller

The best time to buy a car is one of the biggest questions you can ask yourself if you need to renew a lease or purchase a new vehicle. This purchase is not a financial decision that you can make lightly because it usually requires financing. Determining the best time to purchase a car will also provide a timeframe to save money and lower down payment.

The price of a car can vary throughout the month depending on the time of year and the salesperson who attends you at the dealership. That is why it is important to consider what is the best month to buy a car or what specific day to approach, asking for prices before pursuing the car of your dreams. Check out America's Best Bookkeepers

If you can plan and be flexible, keep in mind that dealers work based on sales targets imposed by the car brands. Each month they have a goal to achieve and do not always fulfill it.  Therefore, the last three or four days of the month are usually the most stressful time for the dealership and the best time to buy a car.

The best month to buy a car

Choosing the best month in which to buy a car is essential. Each year there are usually three windows of opportunity that you can take advantage of listed below:

  1. December is the best time. At the end of the year, dealers accelerate their processes to meet their car sales targets. Likewise, if goals have been missed throughout the year, December is the final opportunity for salespeople to meet their individual goals. A dealership that has not achieved its company goal will be more likely to offer a price that allows you to save the most with the purchase. Check out America's Best Bookkeepers
  2. The second-best month to buy a car is August because the average consumer usually saves money during previous months to go on vacation in his brand-new car. Car sales fall after August. The dealer sells fewer models and moves away from his goal. Nobody wants to spend a month without selling a single vehicle. Consequently, the dealership will be friendly and favorable to offer you better conditions for the car of your dreams.
  3. The best time to buy a car is after a poor month of sales when there is overstock. Commonly, there is a bad month of sales, and the dealer is forced to buy models directly from the manufacturer to meet their objectives.  New cars without use or that have zero mileage are registered by the dealer. They have not been used, are only a few weeks old, and usually have favorable discounts. The best months for this situation are January and February; many dealers have been forced to buy cars from brands to meet targets they could not sell in December. Check out America's Best Bookkeepers

The best time to buy a car

Finally, you can always take advantage of the nature of the automobile industry. The renewal of products occurs quickly, so the average life of a model is usually 4 years at most. If you are attentive to advertising, you will know when the new models are coming.

This is important to note so you can take advantage of the inventory for the previous model. Discounts are usually generous, and the dealer will sell a model with no future in the dealership.

In summation, go to a dealership to purchase a car the last few days of the month when salespeople are anxious to make a sale and meet their monthly individual goals.  Also, plan to purchase a car at the end of the year, when dealers want to ensure they can meet their yearly goals, or at the beginning of the new year when the unsold inventory is likely to be discounted.  Now that you know when to buy a car, you can start looking for the model you want and plan your savings accordingly. 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Business Model Innovation - Complete Controller

Technology and innovation are crucial to the growth and success of any business. Operating a business takes drive, intelligence, and the use of every tool available to you. Therefore, innovation has to be part of your business from the beginning.

Innovation has been a part of the world since the beginning of time. Every modern convenience we have came from someone innovating. When owning and operating a business, whether you or someone in a similar industry, taking on innovation will ensure that your business will thrive. Here are three innovations that will help your business become successful.

Product Innovation

Product innovation can be the invention of a new product or advancements in an existing product. For a business based on a product or multiple products, innovation must be central.

Innovation can be driven by consumer demand, industry advances, or the fulfillment of a need. Necessity is considered the mother of invention. However, it is the mother of advancements, improvements, and new products when it comes to product innovation. Check out America's Best Bookkeepers

Business owners can’t shy away from updating their product or products when it comes to growth. However, in some cases, the original product may not need advancement or change, so you also have to understand when to keep a product as is. In those cases, the innovation will need to come through the invention of new products that maintain the brand’s integrity.

Process Innovation

Process innovation is the advancement of processes used in the operation of the business. Operations could include production, administration, sales, or marketing. Changes in the equipment and technologies used in production (including applications used in product design and development) and improvements in the tools can improve productivity and increase revenue.

Also, updates to software systems used to assist in the supply chain and logistics system, changes in the tools used to market and manage your product, and approaches used for accounting and customer care are more examples of process advancement.

While innovation and changes to the process will benefit the customer, the difference is internal and will make overall business operations easier for the entire business staff. Check out America's Best Bookkeepers

Business Model Innovation

Business model innovation is the most difficult because it provides a company with significant improvement criteria. Sometimes, the skills or systems that have been optimized to make a business competitive and sustainable become the priorities for restructuring.

These shifts will threaten aspects of the company’s branding and clash with market values or commitments in certain circumstances. Product and process progress may both be gradual and mild, while business model innovation is disruptive, risky, and revolutionary.

Businesses such as Uber, Airbnb, and Spotify used business model innovation to break the mold of how business models were expected to work. They are excellent examples of fast-moving businesses that were able to challenge age-old markets (taxi service, hotel stays, and music) by tweaking or upending their industry’s traditional business model.

Both existing businesses and startups can modify their business model when developing an initial concept. These innovations in the business model can result in more significant revenue and overall success in well-established industries. Check out America's Best Bookkeepers

Historic Innovation Examples

Coca-Cola implemented innovation in their product in 1985 during the throes of an epic taste battle with Pepsi. This change to their creation was an epic failure resulting in them putting out the original formula called Coca Cola Classic. Eventually, this lapse in judgment was wholly erased when “New Coke” was phased out and the original Coke product was back in its rightful place.

Henry Ford’s invention of the world’s first successful assembly line is one of the most prominent and pioneering examples of process innovation. This process streamlined vehicle assembly and reduced the time required to manufacture a single vehicle from 12 hours to 90 minutes.

Differential recently created a smartphone distribution dashboard for Grupo Bimbo. The baking corporation has 65 assembly facilities and 2.5 million distribution outlets spread over 22 countries and three continents. 

Because of this worldwide spread of facilities, the mobile sales dashboard provides the team with easy access to sales statistics and other key performance indicators (KPIs) for each region, channel, and brand, eliminating guesswork in sales decisions and minimizing meeting times.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers