Cut Risks And Guarantee Gains: Why Real Gold Is Attractive

Published on: 21 June 2018 Last Updated on: 15 October 2020

What is paper gold? When investors talk about paper gold, they’re not referring to a gold leaf, which is real gold hammered into a thin, paper-like sheet that’s used in gilding, stretching gold out for decoration in jewelry, architecture, book-making, and mosaics. They’re talking about gold contracts and derivatives that have been created to make gold trading more mainstream, faster, and profitable for traders who want to go short instead of long.

Paper Gold vs. Gold Bullion :

What’s the difference between paper gold and real gold bullion? Paper gold is a contract for the future delivery of gold. However, most people who trade in paper gold don’t ever actually want to receive gold bullion. Not only are the contracts rarely ever delivered upon, but there’s also a lot of speculation that they never could be delivered on. That’s because there’s more paper gold out there than real gold bullion. The situation is even more pronounced with silver.

Paper gold exists so that gold traders can profit from gold prices going down. When they “go short” on gold, they essentially rent a gold stock from someone who already owns it, sells it at the price of gold today, then buy another gold stock and return it. If the price of gold has gone down, they’ve made a tidy profit. Many believe that the paper gold market is artificially keeping gold prices down, both by inflating the real quantity of gold that can be traded and allowing this type of short-selling.

Is Gold Bullion Better?

It depends on what kind of investor you are, but if you’re looking into gold because you are risk-averse and you need a conservative asset, yes, gold is better. While many criticize the expense of keeping gold, saying insurance and storage are expensive. But there are also management fees involved in a gold ETF. Plus, you face the counter-party risk of trusting your investment with a fund. When you buy gold bullion from a dealer like Silver Gold Bull, you’re putting your trust in the value of gold. When you buy into a gold ETF, you’re putting your trust in the fund’s management as much as anything.

As any investor knows, there’s never such thing as a guaranteed gain. But real gold bullion is about as close to it as you can get. Since modern gold trading began, it’s kept up with inflation in the long term (and done much better than either currency or equities over certain periods). For centuries before then, gold was the preferred way to store wealth. Physical gold bullion is one of the most durable materials on the planet. Thanks to safe and insured online gold buying from online gold companies like Silver Gold Bull, it’s never been safer to save on gold by going online. The risks of holding gold bullion are far lower than paper gold or gold mining stocks in the end. Trust your money in real gold bullion, not paper gold.

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Investors Agree: Gold And Silver Is The Way To Go

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Tips To Hiring Accounting Firms Rochester NY For Your Business

As your business grows, it will eventually become too tedious for you to keep track of your finances and do all the necessary financial paperwork. Before hiring an accounting firms you must know certain vital things. Financial planning, management, and reporting are crucial to a business, and that is why it is essential for a company to hire someone to keep track of its financial movements. While there are many accounting firms in Rochester, they all differ on the type, quality, and service each one has to offer. You must carefully choose which one can fulfill your business needs. Tips To Hiring Accounting Firms Rochester NY For Your Business: Here are tips on finding the right accounting firm for your business: Choose a certified firm: In many cases, you may be able to get off with a bookkeeper. However, if your company is already on the medium scale, then choosing a firm of Certified Public Accountants is a must. They should be able to offer the highest professional standards. These professionals, like Davie Kaplan, are heavily regulated by the government. They are experts in their profession and regularly keep up with the standards mandated by the law and accounting bodies. Identify the specialty of the firm: You’re not going to have quality output if you ask a firm that specializes in tax services to create a financial management plan for you for the next year. It would be similar to asking an electrician to do your plumbing. There are specializations in the accounting field, and identifying their specialty can deliver you the advantages of hiring an accounting firm. Know what services are needed: Identify first the level of service your company may need and match it with a firm that provides the same services, as doing so may save you money in the long run. For you to identify your needs, do some of the accounting work yourself. Accountants are usually paid by the hour, so giving them all the accounting work can be costly. These firms can charge you for services that you may not necessarily need and are not immediately helpful to your goal. Find someone who values your business: Any business who values another upholds confidentiality, integrity, and transparency. These are the basics in terms of business dealings. So then, hire a firm that you can trust with all your financial information, one that you can confidently speak to about any financial situation your business may come across. Getting a firm where you have this kind of trust and confidence can help you get your needs done without any worries about your financial information being compromised. Also, as your accountant, they have to let you know of your financial situation, so getting an accountant that could explain your financial situation to you in very simple terms is extremely important. Know the fees and charges: As a potential customer to these firms, you should gain knowledge about how much they charge for their services. Some firms will charge you more for a service because they specialize in it. Rates differ per firm, and the difference can sometimes be double the rate another firm can charge you for a service. Doing a bit of research and careful study will help you save a lot of money. Find out how they do their business: Some accounting firms may need you to have a meeting with them regularly while some of them may only require you to meet with them at least once a year. You may also need to consider their business location if it is viable for conducting business with your company. Some big companies, on the other hand, use cloud technology for their business, so the site will not matter anymore. Ask for referrals from friends or relatives: Even if the information is readily available online at this day and age, it’s undeniable that a recommendation from a trusted friend or relative is still valuable when you’re looking for a service. Firms may have such grandiose websites, but nothing beats a loyal customer who has tried and tested their service. Conclusion: Again, hiring someone that can ultimately provide the accounting or auditing needs of your business is all in your hands. Inevitably, a firm that offers an affordable fee for its services may be very tempting, but you might want to do more research. After all, it’s not only about the money you can save now but the overall impact it will have on your financial management in the long run. Being careful with your business finances will help you greatly in future business expansions like mergers or inviting new investors. At the same time, you can be confident in terms of tax issues and other legalities. Read Also: 3 Must Know Accounting Tips To Help You Finance Correctly Signs That You Need To Ditch Your Full-Time Accounting Staff For An Accounting Firm

5 Tactics to Improve Your Credit Score This Year

Inflation is up, money is tight, and your credit score is in the gutter. What a way to start the year! Instead of wallowing in self-pity, it’s time to finally do something about your unfortunate credit score. This January, kick-off an improvement plan to improve your credit score by the time the clock strikes midnight on Dec. 31. 5 Lucrative Ways Improve Your Credit Score: 1. Know What You’re Working With You can’t fix a problem you can’t see. If you’ve been avoiding checking your credit score for fear of what you’ll find, get over yourself. Now is the time to set aside your pride and review the damage. Your credit score impacts nearly every financial move you make. Working to improve it now, before you consider shopping for a major purchase, can make your life easier. Pull up your free annual credit report to review the data that’s been reported to the credit bureaus. If you’ve got missed payments, high credit utilization, or too many accounts, take note. Then consider your overall score. Anything under 700 should be seen as an opportunity to improve. Now you’re ready to create your action plan. 2. Take Action Daily You can make measured improvements on your credit score just by being mindful of your daily actions. If you struggle with overspending, pause before you swipe your card. Consider whether the purchase you’re about to make meets your goals and if you’ve got the money to repay the balance. If the answer to either is no, resist the urge to buy. Instead, save up for want-based purchases so you can treat yourself without sacrificing financial security. In an e-commerce age, you probably can’t eliminate plastic from your purchasing repertoire entirely, but you can be smarter about it. Familiarize yourself with different payment options like a credit builder card. These cards are secured by a funds transfer or initial deposit. Every time you pay your bill, your good payment history is reported to the credit bureaus. Over time, this great track record can improve your score. 3. Get Your Budget on Point The way you spend often dictates how well you can keep up with the demands of your bills. While everyone has core expenses across housing, food, and transportation, it’s essential to manage one’s variable expenses. Sit down with the last two months of your spending history to identify budget busters and trends you’d like to address. If dining out is a sore spot for your budget, create a system to help you indulge with purpose. Set a dollar amount that you can spend without dipping into cash reserves dedicated for other expenses. Think about why you like to spend in this category and whether there’s another way to fill your cup. If your real desire is to spend time with friends, pivot to hosting a small potluck dinner once a month. Adjust your spending toward this event, and you just may find you like the results better than gathering at restaurants. 4. Dispute Inaccuracies Your comprehensive credit report may be telling lies about you. If your careful review identifies inaccuracies in your report, it’s in your best interest to dispute them. Late payments are one of the biggest dings on your credit report. If you’re a reliable payer, it’s only fair to fix any errors in your report. First, reach out to the company reporting the information to the bureaus to dispute your account status. Then report the error to the credit reporting bureaus. You’ll need to include a dispute form and documentation supporting your case. This process can take months to resolve, so stay the course on other credit-boosting activities while you wait. Inaccurate reports happen, so it’s important to review your credit report regularly so you can quickly address them. 5. Attack the Two Most Impactful Credit Factors Put your energy into the most impactful parts of your credit score: on-time payments and credit utilization. Your payment history drives 35% of your credit score. If you have a history of late payments, you’re killing your score. Catch up on missed payments and create a system to help you manage your bills. Set up autopay for your core bills (rent/mortgage, utilities, insurance, etc.) so you can ensure that your obligations are covered. The second most impactful area of your financial behavior is credit utilization, which makes up 30% of your score. Credit utilization — the percentage of your available credit that you’re using at any given time — signifies how well you manage money. Work to keep your utilization below 30% to earn a good mark from the credit bureaus. If you can, request a credit limit increase to improve that percentage, but resist the urge to tap into it. Consider making payments toward your balance as you make changes to keep your utilization low. Creating the Accountability to Stay on Track Any goal is more achievable when you breathe life into it. So create a vision board of your credit score goals and post it where you can see it daily. Talk about your plan with your friends and family to create an accountability team for your new credit-building habits. Monitor your progress regularly and course-correct if you need to. The more you interact with your plan and assess your behavior, the more likely you are to be successful. Who knows? After a year of hard work, sacrifice, and intentional effort, your score could even climb from poor to exceptional. Read Also: Revolving Debt Vs Installment Debt – Which Impacts your Credit Score Why Would I Need A Business Credit Report? No Credit Rating Check Lendings Online split Second Authorization 5 Credit Card Perks that are Noteworthy How a Smart Guy Gets an Amazing Commercial Lease with Bad Credit

Most Common Merchant Account Issues Explained

Whether you are just considering the prospect of setting up an online store or looking for ways to enhance your efficiency as an existing business on the web, knowing what problems you are likely to come across as a merchant account owner will help your decision-making on the way. This article will be useful for anyone daunted by the possibility of creating and running a high-risk merchant account. Here, we explore four frequently occurring problems with bank accounts for credit card payment and how to avoid and/or fix them. What Is Considered High-Risk? The degree of risk associated with your merchant account is largely determined by what kind of goods and services you offer. This is part of a common classification used by banks and other financial institutions to work out the most fitting approach for their corporate customers. Traditionally, businesses in agriculture and gardening, education, drop shipping, SMM, babysitting, and other similar areas are labeled relatively safe and enjoy favorable treatment by banks. However, this doesn’t mean they won’t suffer from fraudulent transactions, chargebacks, and more documentation that they can manage when they go online. Contrary to these activities, the following areas are believed to be high-risk: betting forex brokerage booking online dating adult goods and services food sales pharmaceutical sales. If your prospective or existing business belongs to one of the categories on the above list, it means you have a greater than average chance of facing fraudulent activity and other risks that are typical of online payments. Fortunately, though, there are solutions to relieve the hazards for both you and your customers. High Fees and Restrictions on the Part of the Bank As mentioned above, financial institutions seem reluctant to partner with companies in high-risk sectors such as forex brokers. This is not to say that such a partnership is impossible. Instead, you are more likely than not to be charged high fees for the cooperation, which might drain your revenue and are often combined with further restrictive practices. For instance, banks often limit the total transaction amount per unit of time, causing many startup owners to either switch to costlier plans or start multiple accounts. Credit Card Fraud One of the merchant’s biggest fears, fraudsters have many opportunities to rob your business of its honest earnings. Payment card fraud comes in numerous forms, with new practices being developed every moment. This applies to low- and high-risk businesses, although the latter might need more serious measures to protect themselves and their clients from online scams. Common solutions include layered user authentication and payment verification systems as well as dynamic restrictions to exclude certain countries, banks, or partner companies from potential transactions. Overwhelming Documentation Financial institutions will most probably ask you for extensive reports to prove your credibility as a partner. This is especially true if your business has been classified as high-risk. In this case, it is vital to keep a clear and complete record of your activities under the specific requirements of the banks and/or payment providers that you are willing to work with. Too Many Chargebacks Frequent requests for chargebacks, or refunds, can damage your reputation as a business, undermining customer trust and the banks’ willingness to cooperate. The disputes that often arise in such cases tend to be costly to process, too. One way to minimize chargebacks is to provide accurate and clear descriptions of your goods and services, always meet your delivery deadlines, and ensure your overall customer service is decent. However, it is also advisable to incorporate automatic chargeback prevention tools that will identify high-risk transactions and deal with the problem before a dispute is initiated. An All-Round Solution to Manage All the Risks at Once While navigating the difficult landscape can be confusing, especially with little experience in the field, business owners do have a choice. Intelligent payment gateways such as Maxpay offer automation as well as flexibility. Consider investing in an online payment product that will enhance your payment security and prevent overwhelming chargeback numbers without taking too much time to set up and manage. What you are likely to get is a smooth, trouble-free merchant account. Read Also: How New POS Technology is Advancing Merchant Processing How To Know If Your Health Insurance Covers Visits To The Chiropractor

Cut Risks And Guarantee Gains: Why Real Gold Is Attractive

Paper Gold vs. Gold Bullion :

Is Gold Bullion Better?

Tips For Reducing Car Insurance Costs

Your Simple Guide to GAP Insurance

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Cut Risks And Guarantee Gains: Why Real Gold Is Attractive

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Follow Us

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