Typhoon Haiyan: World Bank offers $500M loan
As government officials and aid workers struggled to reach communities devastated by Typhoon Haiyan 11 days ago, the World Bank has offered the Philippines a $500-million emergency loan to help it construct buildings able to withstand high winds and severe flooding.
“We are committed to supporting the government in its effort to recover and rebuild, and to help Filipinos strengthen their resilience against increasingly frequent extreme weather events,” said World Bank Group President Jim Yong Kim said in a statement on Monday. The bank did not offer details on the terms of the offer or when funds would be distributed.
Two Angels Open a lemonade stand to help #YolandaPH victims
- CBCP: Gawad Kalinga Command Center for relief ops for North NCR is at HRD Training Ctr, DAR Compound QC. # 09991889683 / 09064192016 / 09228483806
- SMART: Smart subscribers may send donations to Red Cross via SMS. Text RED to 4143. (10, 25, 50, 100, 300, 500, 1000).
- Globe Telecom: We are waiving our transaction fees for donations made via G-Cash. To donate, text DONATE <4 -digit=”-digit” m-pin=”m-pin”> REDCROSS to 2882
- LBC: LBC branches as drop-off centers for Phil. Red Cross. You may take your donations for flood victims to the nearest branch starting tom Aug 8
Twitter IPO Sets Billionaires In Flight
Twitter’s rocketing IPO takes two of its founders on a ride into billionaire territory and a wave of millionaires along for the journey. Shares opened at $45.10 and quickly shot past $50. Read More
Do You Need To Hire A Financial Advisor
Last week, Brightscope CEO Mike Alfred wrote a post on Forbes.com defending financial advisors from emerging online investment firms such as Wealthfront, Betterment and FutureAdvisor. While I respect Mike greatly for BrightScope’s work in lobbying for open government data and transparency, in my opinion his “people-are-always-going-to-want-a-human” argument misses the point.
How to save for retirement
The easiest way to save for retirement is to take the decision out of your hands. If your company has a 401(k) program, enroll in automatic deductions so that money goes from your paycheck to your account without you lifting a finger. If you have an IRA, set up an automatic transfer from your checking account to your IRA – or at least from your checking account to a savings account, and set a reminder to manually transfer from your savings account to your IRA.
In terms of priorities, it’s best to allocate your money in this order:
– Invest in your company’s 401(k) up to the limit of its matching program, if it offers one
– Contribute the maximum ($5,500, or $6,500 if you’re over 50) to your IRA
– Contribute the maximum ($17,500, or $23,000 if you’re over 50) to your company’s 401(k)
100% Financing Program with Mortgage 100®
-Minimize upfront mortgage expenses.
-Keep your overall investment approach on track.
-Increase your potential tax deductions.
Minimize up-front mortgage expenses
-Reduce or even eliminate your down payment.
-Eliminate Private Mortgage Insurance (PMI).
-Choose a “0” points mortgage closing option to reduce your total out-of-pocket mortgage closing costs.
-There are no additional fees or higher rates to use 100% financing.
Keep your investment strategy on track
-Remain fully invested by holding eligible assets in a Merrill Lynch pledge account, and continue to buy, sell or trade in that pledge account within Merrill Lynch Home Loans guidelines.
-Continue to have the opportunity to earn dividends, interest and capital appreciation.
-This means that you can potentially enhance your net worth.
Enjoy potential tax benefits
-Defer any capital gains taxes that might be incurred from liquidating securities for a cash down payment. (Please consult your tax advisor.)
-Potentially increase the amount of your tax deductible mortgage.
Should Pinoys Use Reverse Mortgage Option?
With a reverse mortgage you can turn the value of your home into cash without having to sell the property, move out of it, or repay a loan every month. Before entering into a reverse mortgage agreement educate yourself, consult with trusted advisors and understand the pros and cons. Read More
How to Build Corporate Credit
There are several reasons why you might want to build corporate credit, but the major one is corporate credit allows you to get loans and other forms of funding without having to use your personal credit. When corporation owners use their personal credit to secure funding or equipment, the lines between personal liability and business liability blur. This means that if the business can’t make the payments, the individual must still find a way to pay the debt, or it may negatively affect his or her credit report and score. With this in mind, here are a few ways you can build corporate credit. Read More
US senator apologizes to Pinoy WW2 Veterans
A United States senator this week apologized to Filipino World War II veterans over his recent statements that contained references to the Bataan Death March. Read More
The Best Online Mortgage Brokers
If you’re thinking of taking out a mortgage loan or refinancing a current one, you’ve probably at least considered working with an online mortgage broker. Applying for a mortgage through the Internet is a quick process. You won’t have to meet in person with a loan officer, and you may not even have to talk to one on the telephone. Taking out a mortgage loan this way isn’t for everyone. Some people want the advice and counsel that you can only get when meeting in person with a loan officer. But if you think an online brokerage is right for you, there are several experienced Internet-based brokers from which you can choose. Read More